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You should read the approved judgements with the various State AGs that outline the measures, Government oversight and reporting Equifax is still required to do
by dwd 3y ago
You should read the approved judgements with the various State AGs that outline the measures, Government oversight and reporting Equifax is still required to do to prevent a future occurrence.
Should it happen again then you would very likely hear for calls for Gov to step in and take direct control of the firm.
- caconym_ 3y ago> Should it happen again then you would very likely hear for calls for Gov to step in and take direct control of the firm. We heard calls for similar last time, but I don't think anybody expected the legal/regulatory response to be anything resembling an existential threat to Equifax, and it wasn't. I don't see why the second time would be any different—we are surrounded by examples of how our dogshit government is utterly derelict in its duty to protect workers and consumers, and arguably complicit across the vast scope of corporate abuse of the same.
- dwd 3y agoWhen anyone talks about Equifax's "customers" that means Government at all levels along with every corporate who isn't using a competitor. I would think a takeover similar to what happened with Fannie Mae/Freddy Mac could happen as much to maintain Equifax as a going concern and protect the credit markets than an actual penalty. Consumers still get screwed.
- justinclift 3y agoSo, treated the same way as banks after the GFC then, but without needing to give them money as well?