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The credit reporting agency will pay up to $700 million in fines and monetary relief to consumers over a 2017 data breach that affected nearly 150 million people.
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This announcement brings the total number impacted by the massive hack to about 148 million people and renews lawmakers' scrutiny of the company's response to the data theft.
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The largest known theft of Social Security numbers in history has lawmakers, law enforcement and identity theft victims angry. They're calling for better security and other changes in the system.
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The company's interim CEO promises to "let consumers easily lock and unlock access to their Equifax credit files." The service would be "offered free, for life."
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The credit reporting agency said Chairman and CEO Richard Smith is retiring — just weeks after Equifax acknowledged that hackers had accessed the personal information of up to 143 million consumers.
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The credit reporting agency set up a website to help people determine whether they had been affected by a cyberattack. But on Twitter, Equifax repeatedly pointed people to a phishing site.
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Equifax is already struggling to retain public trust after it waited at least a month to disclose a cyberattack that potentially impacted the personal information of millions of people.