After introducing legislation targeting credit bureaus' bottom lines, the Massachusetts senator says, "Equifax is still making money off their own breach."
BY DARA KERR
Sen. Elizabeth Warren has led the charge against Equifax for not doing enough to protect its customers before it was hit with a major data breach last year. Now she's saying the credit reporting agency might be making money off this breach.
"Equifax may actually make money off this breach because it sells all these credit-protection devices, and even consumers who say, 'Hey, I'm never doing business with Equifax again' -- well, good for you, but you go buy credit protection from someone else, they very well may be using Equifax to do the back office part," Warren said in an interview with Marketplace. "So Equifax is still making money off their own breach."
Equifax was hit with a massive data breach in September, when hackers stole data on more than 100 million consumers. Personal details like Social Security numbers and addresses were stolen, which has left those customers vulnerable to identity theft.