In a Highly Unusual Move, FTC Confirms It Is Investigating Equifax (reuters.com)

The Federal Trade Commission (FTC) on Thursday confirmed it is investigating Equifax's handling of a data breach affecting 143m Americans. "The FTC typically does not comment on ongoing investigations. However, in light of the intense public interest and the potential impact of this matter, I can confirm that FTC staff is investigating the Equifax data breach," said Peter Kaplan, the commission's acting director of public affairs. Washington Post reporter tweeted: "To put a finer point on it, this is really, really unusual -- the FTC hardly ever says anything about ongoing probes."

Comments

Of course,it's the most singificant data break yet

[evolutionary]

It would be surprising is there WASN'T an investigation given Equifax has credit and personal info on a huge number of the US population and controls credit access of virtually the entire country. Probably should have been more government monitoring for security which I would guess will occurs after a post-mortem of this incident.

Theory-

[WolfgangVL]

Tinfoil hattery:

This beach was state sponsored. Over the next few weeks, American identities will be stolen en-mass, prompting nationwide credit-freeze. Consumers lose trust in the American system of credit/debt as the fraudulently borrowed moneys and goods leave the country before the freeze. People demand companies are punished, and place blame on the money lenders and banks.

People go back to spending only what they've earned. Retail feels the pinch first. Many go under in the first months. Prices rise, as available supply of goods diminishes (no longer produced on a credit-line, volume drops)

When the money stops moving around, the financial sector of the US economy withers and dies within weeks.

The 1% panic. Crisis follows.

I imagine this is what 21st century warfare looks like.

Re:I'm up for a corporate death penalty

[bev_tech_rob]

I support the death penalty. So much, in fact, that I want to see Equifax executed - in this case, by having its corporate charter revoked. They're not "too big to fail". They're not providing a valuable product to our economy. They're not America's Last Great Hope at manufacturing or anything like that. They're a rent-seeking parasite on the economy who obviously can never again be trusty with the weaponizable data they collect on everyone who lives here. Cut off its head - sacrifice it on the altar of accountability and justice - and call it done.

And as we'd lock up a street-level criminal until their trial, Equifax should be imprisoned by having its bank accounts and stock trades frozen immediately. Sure, that means it can't pay its CEO. Yes, it means its employees will break up with it in favor of more upstanding members of society. Yeah, it means it won't be able to pay rent and will probably get evicted. If all that's good enough for Joe Accused Weed Dealer, it's good enough for Equifax Accused Stalker.

Where are my mod points when I need them?? +1