Pathetic. The credit bureaus not only have a massive amount of information, but they exert enormous control of our financial lives. The fine should have been 10 times this amount and it should all go to anyone who had their data stolen.
Pathetic. The credit bureaus not only have a massive amount of information, but they exert enormous control of our financial lives. The fine should have been 10 times this amount and it should all go to anyone who had their data stolen.
I think we need to impose a corporate death penalty. Otherwise, Equifax should be liquidated and the funds distributed to the impacted parties- not the governments that will just waste it. Then go after the corporate officers responsible, making them responsible for civil penalties related to negligence, gross incompetence, etc.
Let that happen a time or two and corporate America will wake up. Right now they can digitally stalk you at will and sell the data for profit. In some cases they provide inaccurate data that can impact your ability to get a job, a promotion, secure credit, or even rent an apartment. When they screw up on this massive scale they are slapped lightly on the wrist.
“I’ll believe that a corporation is a person when the state of Texas executes one.”
All the rights, none of the responsibilities; privatize the gains and socialize the losses. Corporatism and Laissez-faire capitalism in a nutshell.
This is total BS. Companies like Google and Facebook get fined billions of dollars for their security lapses, yet Equifax walks away with a slap on the wrist.
This is nuts, it should be several $billions, minimum. Actually, as someone else suggested, it should be the end of this company.
mac_dog said: You need to start voting in law makers that aren’t beholden to corporate interests in order for this to happen. I’m thinking the likes of Elizabeth warden and Bernie Sanders. ...
Warren is a do-nothing grandstander. Bernie won't make it (they won't let him).
SpamSandwich said: Class-action suits mostly benefit the law firms filing, not those allegedly harmed.
Yeah, I've never seen one get class-members any kind of reasonable money, though sometimes they can make an action happen (ex: the VW buy-back program on the diesels).
Not everyone is so happy with the settlement package, however. US Sen. Ron Wyden (D-OR) put out a statement on Monday blasting the proposals and arguing that company execs should have been personally prosecuted for their negligence in handling the personal information of others.
"Equifax leaders knew its security was pitifully weak and yet did nothing to correct it, according to the FTC. In a just world, these executives would be going to jail," reads Silicon Ron's statement to El Reg.
"No one should be able to collect deeply sensitive information on 200 million people without their consent, treat it with reckless disregard and then just pay a fine when a predictable, easily avoidable hack takes place."
.....
I don’t know about jail, but they should go on trial personally and at the very least see significant person consequences... (fine the @#$& out of them)
I think we need to impose a corporate death penalty. Otherwise, Equifax should be liquidated and the funds distributed to the impacted parties- not the governments that will just waste it. Then go after the corporate officers responsible, making them responsible for civil penalties related to negligence, gross incompetence, etc.
Let that happen a time or two and corporate America will wake up. Right now they can digitally stalk you at will and sell the data for profit. In some cases they provide inaccurate data that can impact your ability to get a job, a promotion, secure credit, or even rent an apartment. When they screw up on this massive scale they are slapped lightly on the wrist.
agree the settlement needs two more zeros and the executives need a perp walk for their role in trying to cover this up. That would at least get us close to what is needed.
We can all complain/vent our frustration re this abominable mess but until Equifax staff are held personally responsible and they suffer financial hardship (large fines..need to hit them where it hurts..their wallets), this type of incident will more than likely continue. They need to pay for their negligence/gross incompetence, not us! Equifax definitely needs to be liquidated and shut down and the sooner the better!
Comments
Seems insultingly light touch, write to the FTC and complain.
All the rights, none of the responsibilities; privatize the gains and socialize the losses. Corporatism and Laissez-faire capitalism in a nutshell.
Fuck these people.
If you're actually interested in doing something, there are a couple bills to support and an alternative method that bypasses them.
https://congressionaldish.com/cd200-h-r-1-how-to-end-legal-bribes/
Yeah, I've never seen one get class-members any kind of reasonable money, though sometimes they can make an action happen (ex: the VW buy-back program on the diesels).
Not everyone is so happy with the settlement package, however. US Sen. Ron Wyden (D-OR) put out a statement on Monday blasting the proposals and arguing that company execs should have been personally prosecuted for their negligence in handling the personal information of others.
"Equifax leaders knew its security was pitifully weak and yet did nothing to correct it, according to the FTC. In a just world, these executives would be going to jail," reads Silicon Ron's statement to El Reg.
"No one should be able to collect deeply sensitive information on 200 million people without their consent, treat it with reckless disregard and then just pay a fine when a predictable, easily avoidable hack takes place."
.....
I don’t know about jail, but they should go on trial personally and at the very least see significant person consequences... (fine the @#$& out of them)