Equifax Faces Mounting Costs and Investigations From Breach
Equifax has incurred $87.5 million of expenses stemming from a giant data breach this year
and faces dozens of government investigations as a result, the credit reporting company said Thursday.
“We recognize that we have an important journey in front of us to regain the trust
and confidence of consumers and our business customers,” Paulino do Rego Barros Jr., the company’s interim chief executive, said in a statement.
Skittish corporate customers have delayed some projects until the company can prove
that its systems are secure, Equifax said in a regulatory filing Thursday.
All 50 state attorneys general have demanded information, Equifax said, as have the Federal Trade Commission, the Consumer Financial Protection Bureau, the Securities
and Exchange Commission and regulators in Britain and Canada
Equifax disclosed in September that attackers had used a flaw in its website software
to extract the personal information of as many as 145.5 million Americans.
Equifax said Thursday that its third-quarter profits fell to $96.3 million, down 27 percent from the same period last year.