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It's doubly painful, because the "free credit monitoring" on offer is provided by Equifax -- the exact company whose competence we don't trust anymore. The com
by amalcon 7y ago
It's doubly painful, because the "free credit monitoring" on offer is provided by Equifax -- the exact company whose competence we don't trust anymore. The compensation for being affected by Equifax's security failure is a gratis security offering from that same company. For crying out loud, they could have at least paid Experian or TransUnion to do the monitoring: while they are just as shady, we don't have immediate evidence of their security incompetence.
It's like if you purchased a product that exploded, injuring you, but somehow the manufacturer was permitted to compensate you by giving you other products they manufacture. Why would you want those products? How do you know they won't also explode?
- hiram112 7y agoThere is actually a response from the FTC about concerns relating to the credit service being offered by Equifax themselves. Therefore the agreement stipulates that the first four years of monitoring is provided by Experian, the final 6 years, though, is still Equifax. https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement#FAQ8 https://www.ftc.gov/enforcement/cases-proceedings/refunds/eq...
- dwild 7y ago> It's doubly painful, because the "free credit monitoring" on offer is provided by Equifax -- the exact company whose competence we don't trust anymore. The free credit monitoring is provided by Experian, not Equifax. [1] [1] https://www.equifaxbreachsettlement.com/ https://www.equifaxbreachsettlement.com/
- amalcon 7y agoOh neat, I must have glossed over that part. Egg on my face then. It's still not great, but significantly better than I thought it was.
- exabrial 7y agoIf it only looks suspicious, it is. They all golf together.
- Rebelgecko 7y agoOf the 10 years of "free" credit monitoring, the first 4 years is from Experian but the remainder is from Equifax.
- gscott 7y agoAlso as soon as the breach happened Equifax started running on TV ads promoting their monitoring service for a fee. They also made money from people freezing their credit and unfreezing their credit they charge a fee to unfreeze the credit report. I can't remember the exact amount but I think they wanted $10 from me to unfreeze my credit report early so I just waited out the freeze period instead... Which was inconvenient.