American Banker shares some of the companies that may stand to benefit from the Equifax hack as identity verification becomes top of mind; Mitek is planning to roll out a new product called Mobile Verify for Lending; other companies that have similar solutions include Trulioo, VixVerify and AuthenticID. Source
Following the Equifax hack, Credit Karma is offering a free service that will alert customers if their information has been compromised; the service is currently being tested and will be available sometime in October; the company accelerated the launch due to the large breach at Equifax and has seen a 50% increase in signups following the hack. Source
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[Editor’s note: This is a guest post from Jeff Knott, assistant vice president at Equifax. Equifax is a bronze sponsor and will be...
The WSJ reports that the hack actually occurred in March instead of May; the breach wasn’t discovered until July 29th and it was announced to the public on September 7th. Source
The Consumer Financial Protection Bureau (CFPB) has fined TransUnion and Equifax over $23.2 million for deceptively advertising services; the agencies reportedly advertised credit services costing customers over $200 as free and misled customers about the use of credit reports they obtained; according to the CFPB, TransUnion will pay $13.93 million to consumers and a $3 million fine while Equifax will pay $3.8 million to consumers and a $2.5 million fine. Source
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