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A top senator calls for an investigation into Equifax in a scathing letter

Elena Holodny
mark warner

(Sen. Mark Warner.Kevin Lamarque/Reuters)
Democratic Sen. Mark Warner of Virginia on Wednesday asked the Federal Trade Commission to examine the recent hack of Equifax, the credit-reporting agency.

He requested an investigation into the firm's cybersecurity practices and questioned its response to consumers who may have been affected by the breach.

Equifax last week reported a massive data breach, saying hackers may have accessed the personal details, including names and Social Security numbers, of more than 143 million customers from mid-May to July. Equifax, which says it learned of the breach in late July, said credit card numbers for about 209,000 people and certain documents for another 182,000 were also accessed.

The disclosure was swiftly met with criticism because of the delay in alerting the public to the hack, as well as problems with the website Equifax set up for people to check whether their details were at risk.

Equifax

(Markets Insider)
Three senior executives dumped almost $2 million worth of stock days after the company learned of the breach. An emailed statement from the credit-monitoring agency said the executives "had no knowledge" of the breach beforehand.

Warner said the security lapses "potentially indicate a pattern of security failings" by the company.

Equifax's stock is down 5.7% on Wednesday. It has tumbled 23% since the news broke last week.

The full letter from Warner is below:

Sen. Warner Asks FTC to Probe Equifax by MarkWarner on Scribd

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