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Published: Tue, September 12, 2017
Economy | By Melissa Porter

Equifax changes fine print for TrustedID Premier free credit monitoring

Equifax changes fine print for TrustedID Premier free credit monitoring

It cited a February 22 regulatory filing in which Atlanta-based Equifax said more companies are offering free or low-priced services such as credit scores, reports and monitoring "as a means to introduce consumers to premium products and services".

Go to each of the three major national credit bureaus and freeze your credit. You can be charged a $5 fee per credit reporting agency to place or remove a freeze. It also could undermine the integrity of the information stockpiled by two other major credit bureaus, Experian and TransUnion, since they hold virtually all the data that Equifax does, Litan said. The data breach leaked consumer's identification such as Social Security numbers, birth dates, addresses, and driver's licenses.

"The Equifax breach has potentially exposed sensitive personal information of almost everyone with a credit report, and my office intends to get to the bottom of how and why this massive hack occurred", he said. An Equifax spokeswoman didn't immediately respond to a request for comment.

In afternoon trading, Equifax shares were down $10.03, or 8.1 percent, at $113.20. The alert is free of charge and will make it more hard for someone to open credit in your name. (NYSE:EFX) hack is bad news for anyone with credit. Contact each credit reporting agency separately to place a freeze.

"Will we be reimbursed for having to pay for credit freezes?" one consumer wrote to Equifax on Twitter "I did 4 over the weekend, I do not think that I should have to pay for it!"

State Attorney General Eric Schneiderman announced Friday that his office is investigating the data breach.

Along with the lawsuit, it has also raised public attention when it was reported that three Equifax executives, John Gamble, Rodolfo Ploder and Joseph Loughran, had sold their shares prior to the data hack, according to the SEC. Schatz believes the offering to be "inadequate for several reasons". Con artists may pretend to have information about the breach or they may falsely claim to want to help you.

"This is just one more example why the Consumer Financial Protection Bureau's rule banning forced arbitration is badly needed to protect the rights of working Americans", said Sen. The U.S. government can still see someone's credit during a freeze, but creditors can't, reports Bankrate.com.

Still, the service provider noted that the breach impacted current and former consumer and business customers. Schatz also joined Senators Elizabeth Warren, D-Ma.; Bernie Sanders, I-Vt.; Richard Blumenthal, D-Ct; and Jeff Merkley, D-Or., in reintroducing legislation that would aim to make it easier for consumers to know if they are the victim of identity theft and fraud.

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