Consumer frustrations grow over Equifax security breach

The statement comes as 143 million people are worrying about the exposure of sensitive personal information in a wide-reaching data breach of the credit reporting agency. Initially the company’s credit monitoring did have a cost. Three Equifax executives who sold $2 million in stock before the data breach was made public may face insider trading investigations. No one today can expect data like Social Security numbers and dates of birth to remain secure. “If Equifax is genuine about wanting to protect customers, it must remove forced arbitration immediately from TrustedID and any other services offered to victims of the data breach”, Sen.

Assume thieves have your information.

Medical providers bill you for services you didn’t use. When he and his daughter went to the approved site to see if they were affected, they got a red screen stating ‘deceptive site ahead’.

NOTE: You can temporarily “thaw” your freeze so you can get a auto loan or a credit card.

Financial coach Ivelisse Perez says you should get a copy of your credit report, then another copy within 1-3 months. “We urge Iowans to take advantage of that”, Greenwood said.

Warner, the co-founder of the Senate Cybersecurity Caucus, criticized tools that Equifax released in the wake of the breach to help individuals find out if they were affected.

“With Equifax, no one chose or gave them the information to open up a credit bureau report”.

“It caused in my mind further concern, that perhaps I had given out more information now than I should have”, said Compagno. That’s all thieves need to steal your identity. Their ubiquitous three-digit “credit scores” control the amount of interest charged on your mortgage, whether you have to pay a deposit when you sign up with the gas company, whether you get a job, a credit card, life insurance. You can challenge fraudulent credit charges, but your best protection from liability depends on alerting your issuer in a timely fashion.

You have to freeze your credit with all three credit bureaus.

A credit freeze, which is also called a security freeze, locks down your credit and can only be lifted with a personal identification number (PIN) that you receive when you enroll.

The nature of the USA financial system protects Equifax and its two major competitors, TransUnion and Experian, from repercussions.

People hear about scams and ID theft and that those who obtain your information can fraudulently open credit cards.

Ingrid and many others asked, “What do I need to do to freeze my credit?“.

“We are committed to keeping consumers updated on the steps we are taking to provide them with the support they need and address any issues they are facing in response to this incident”.

“A credit freeze is basically blocking new creditors from checking your credit”.

“So that if you don’t have that phone, or don’t have that app with you, then you cannot access the computer to get into that account”. Equifax is already facing dozens of consumer class actions across the country. You Do originally appeared on NerdWallet.

Bev O’Shea is a writer at NerdWallet.