Normally tight-lipped about security moves, bankers tell how they are re-examining their systems for Equifax-like flaws and providing new cards, fresh accounts and reassuring advice for anxious customers.
More than 100 suits have been filed since the company revealed the massive data breach last week; price of digital currency is down 25% since hitting a record high a week ago.
TransUnion Chief Financial Officer Todd Cello said Tuesday the firm kept call centers open through the weekend to deal with the flood of calls from anxious consumers.
Senior Consulting AssociateCapital Performance Group
Banks should not point blame at the credit bureau but rather should step up and demonstrate their commitment to their customers. If you punt the problem to Equifax, it suggests you don’t really care.
Online lender’s co-founder says “negative press” from lawsuits has become a “distraction”; company sought lighter regulation and limited legal liability for credit bureaus.
In order to compensate victims of the breach, Equifax is offering free credit monitoring services that include a mandatory arbitration clause, a measure Democrats were highlighting to lobby support for the CFPB's rule banning such clauses.
