Equifax Is Bashed for Forcing Arbitration on Consumers After Data Breach
The credit reporting agency Equifax Inc. faces enormous national backlash and future scrutiny after revealing one of the largest data breaches in the U.S., one that potentially affects nearly half of the country’s population. The company drew even more criticism for its move to force customers to agree to arbitration to participate in a free credit monitoring and identity theft service. Equifax has resisted efforts by U.S. regulators to ban the widespread use of arbitration agreements in consumer contracts in the banking and finance industries.
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