Thursday, January 31, 2013

Equifax Peddling Private Information to Debt Collectors

Posted By on Thu, Jan 31, 2013 at 9:06 AM

In what is being called "one of the biggest privacy breaches in recent memory," Equifax, one of the nation's largest credit reporting agencies, is selling personal data to debt collectors, financial service companies and other organizations.

Equifax has accumulated the salary and employment records of more than one-third of all U.S. adults, representing one of the most expansive private databases of information.

Worse yet, NBC News reports that Equifax doesn't need to notify the individual whose information is being sold, and the entire thing is legal under the Fair Credit Reporting Act.

According to the Huffington Post, Equifax gets the information from U.S. businesses, and then hands it to one of its subsidiaries, The Work Number.

Chi Chi Wu, an attorney at the National Consumer Law Center, told the Huffington Post that if consumers are bothered by these practices, their best course of action is to let Congress know.

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