This article by Gabrielle Hernandez explains that Chatbot company DoNotPay released a set of chatbots that can help consumers sue Equifax for negligence. Users provide their name and address to the bot, and it feeds the information into a state-designated form users can then print and file directly with the court. DoNotPay’s Equifax bots were first […]
Read about it in this article by Kevin McCoy. An excerpt: Filed in 14 states and the District of Columbia, the federal lawsuits target either Equifax or the company's Equifax Information Services subsidiary. The legal complaints cite a range of legal claims, including alleged security negligence by Equifax, the delay in alerting the public and concerns about the free credit monitoring […]
The Washington Post reports: Tens of thousands of former students who say they were swindled by for-profit colleges are being left in limbo as the Trump administration delays action on requests for loan forgiveness, according to court documents obtained by The Associated Press. The Education Department is sitting on more than 65,000 unapproved claims as […]
by Jeff Sovern Brian posted earlier about a letter from senators on the Equifax breach. Not to be outdone, the two dozen Democrats on the House Energy and Commerce Committee have written their own letter to Equifax, raising numerous questions about the breach. Among them are queries about the Equifax's arbitration clause, security freeze, credit monitoring services, […]
Read this article by Pete Schroeder. An excerpt: Thirty-six U.S. senators on Tuesday called on federal authorities to probe the sale of nearly $2 million in shares of credit bureau Equifax Inc by company executives after a massive data breach this summer, and one compared their actions to insider trading. The lawmakers signed a letter […]
by Jeff Sovern I wanted to comment on a couple of op-eds opposing the CFPB arbitration rule. One is Joseph Cioffi's piece in the American Banker, headlined CFPB arbitration rule will still pose costs to consumers. Though Cioffi (Chair of the Insolvency, Creditors’ Rights & Financial Products Practice Group at Davis & Gilbert) sees the arbitration rule as […]
Consumer Financial Protection Bureau head Richard Cordray was the subject of a story that aired yesterday on CBS's "Sunday Morning" news program. To view it, click here or on the embedded video below. The story depicts Cordray as indefatigable — and "the best friend the consumer has ever had" — in the face of constant harassment […]
Politico reports that, one after "regulators fined Wells Fargo $185 million for opening potentially millions of fake accounts, the bank is nowhere close to putting the scandal behind it. Congress is threatening new hearings, and some Democrats have called on regulators to remove the bank's board or for breaking up the lender entirely. In fact, […]
The New York Times reports: Equifax warehouses the most intimate details of Americans’ financial lives, from the credit cards in their wallets to the size of their medical bills. But the company doesn’t face the constant monitoring and auditing that help strengthen banks’ systems and data protections. Despite the wealth of sensitive information in its […]
That's the topic of this article by David Goldman. The article is accompanied by a video that I found useful.