Equifax doesn't want consumers to get their $125 (nytimes.com)

Article summary

Equifax is requiring individuals who applied for the $125 payout option in the data breach settlement to provide additional information by October 15 or risk having their claim denied. The email requesting this information may have been filtered into spam or promotions folders, causing some individuals to miss it. The required information includes the name of the credit monitoring service being used and a commitment to continue using it for at least 6 months. The settlement process has been criticized for being cumbersome and for not holding Equifax accountable for its negligence.

Main themes

• Equifax data breach
• settlement process
• corporate accountability
• credit monitoring
• data security

What commenters say

• Equifax's requirement for additional information is a legitimate step in the settlement process, but the company's communication has been poor.
• The settlement amount is too low and does not adequately compensate individuals for the harm caused by the data breach.
• Executives at Equifax should be held personally responsible for the breach, including facing jail time, due to their negligence and failure to prioritize security.
• The lack of consequences for Equifax's actions is a result of a broader cultural problem in which corporate leaders are not held accountable for their mistakes.
• The appointment of a chief security officer with no relevant experience or qualifications is a symptom of a larger problem of nepotism and prioritization of connections over competence.
• Individuals can take action to avoid supporting Equifax by requesting that lenders do not use the company's services when applying for credit.
• The incident highlights the need for greater regulation and oversight of companies that handle sensitive personal data.
• The fact that one employee's mistake could cause such a massive breach suggests a lack of adequate safeguards and protocols in place at Equifax.