Franken Questions Fmr. Equifax CEO On Data Security On Capitol Hill
MINNEAPOLIS (WCCO) -- More than 146 million Americans are still waiting to find out what will happen after their personal and financial information was compromised in the massive Equifax data breach.
The former head of the credit bureau, Richard Smith, has been testifying before Congress all week. At a hearing Wednesday, Minnesota Sen. Al Franken asked about the fine print in the Equifax agreement with consumers.
The arbitration clause would take away the right for anyone affected by the data breach to seek legal recourse against Equifax.
"Are you suggesting every other consumer who may have been cheated or mistreated by Equifax is not worthy of the same access to justice as those who have been harmed by this breach?" Franken asked Smith at the hearing.
"Senator, if I may clarify, the arbitration clause is in a series of products that we offer to consumers where consumers have options," Smith responded. "If they don't like the arbitration clause in the products that we offer for sale, they have the ability and the right to go somewhere else."
Smith announced his retirment from Equifax last week.
