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Equifax Breach, Two Years Later: Lessons for the Financial Services Industry

Fallout from the breach has been a security wakeup call for lawmakers and financial services providers.

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Nearly two years after the Equifax breach, the fallout is far from over. As detailed in the 96-page Senate Committee on Investigations report, serious flaws in the financial systems’ consumer data security framework were exposed. Sen. Elizabeth Warren (D-Mass.), a vocal critic of Wall Street and its many entities, echoes the Reuters report, stating that Equifax “failed to implement an adequate security program to protect this sensitive data, and as a result, Equifax allowed one of the largest data breaches in U.S. history.”

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