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  • FIRST POST
    • PhylPho
    • By PhylPho 14th Feb 18, 11:26 AM
    • 1,282Posts
    • 2,791Thanks
    PhylPho
    Why is Equifax still allowed to operate in the UK?
    • #1
    • 14th Feb 18, 11:26 AM
    Why is Equifax still allowed to operate in the UK? 14th Feb 18 at 11:26 AM
    Latest news from the US's Senate Banking Committee is the making public of a letter written by Senator Elizabeth Warren to the credit rating company's new hierarchy (the old management having 'retired' with $multi-million pay offs):

    "As your company continues to issue incomplete, confusing and contradictory statements and hide information from Congress and the public, it is clear that five months after the breach was publicly announced, Equifax has yet to answer this simple question in full: what was the precise extent of the breach?"

    Disclosure of the truth is being resisted by Equifax at every twist and turn in this ongoing saga, such that only incrementally is a picture emerging of the scale of what happened and the damage arising.

    Yet Equifax is still allowed to operate in the UK, harvesting and compiling the most sensitive data about individuals and their finances.

    Be nice to hear something, some time, from Martin Lewis as to why he thinks letting Equifax keep its license is a good / is absolutely definitely not a good idea. Or doesn't he, or MSE, have any opinion to express about the continued existence of an outfit which has its hooks in the lives of UK money savers everywhere??
Page 1
    • antrobus
    • By antrobus 14th Feb 18, 11:52 AM
    • 15,606 Posts
    • 22,256 Thanks
    antrobus
    • #2
    • 14th Feb 18, 11:52 AM
    • #2
    • 14th Feb 18, 11:52 AM
    Be nice to hear something, some time, from Martin Lewis as to why he thinks letting Equifax keep its license is a good / is absolutely definitely not a good idea. Or doesn't he, or MSE, have any opinion to express about the continued existence of an outfit which has its hooks in the lives of UK money savers everywhere??
    Originally posted by PhylPho
    Please see here
    https://www.moneysavingexpert.com/news/tag/Equifax
    • PhylPho
    • By PhylPho 14th Feb 18, 1:54 PM
    • 1,282 Posts
    • 2,791 Thanks
    PhylPho
    • #3
    • 14th Feb 18, 1:54 PM
    • #3
    • 14th Feb 18, 1:54 PM
    Thanks, antrobus, but I'm aware of MSE's reportage; I read it all at the time.

    What I'm wondering about isn't MSE reportage but MSE opinion / Martin Lewis's opinion, and if either or both have made representations to the FCA.

    I'm well aware the FCA takes no notice of anything said by humble souls such as members of the public but it is politically conscious of its image and it does take note of opinions expressed to it, and representations made to it, by entities like the Consumers' Association.

    Be nice to learn that MSE / Martin Lewis have made a view known, and especially in light of what's sloooowly unfolding in the USA.

    (But then, that is the USA, where Volkswagen Audi Group has had to shell out $millions in compensation over the Dieselgate fraud but not a penny in the UK. . .)
    • bigisi
    • By bigisi 14th Feb 18, 2:18 PM
    • 191 Posts
    • 347 Thanks
    bigisi
    • #4
    • 14th Feb 18, 2:18 PM
    • #4
    • 14th Feb 18, 2:18 PM
    Thanks, antrobus, but I'm aware of MSE's reportage; I read it all at the time.

    What I'm wondering about isn't MSE reportage but MSE opinion / Martin Lewis's opinion, and if either or both have made representations to the FCA.

    I'm well aware the FCA takes no notice of anything said by humble souls such as members of the public but it is politically conscious of its image and it does take note of opinions expressed to it, and representations made to it, by entities like the Consumers' Association.

    Be nice to learn that MSE / Martin Lewis have made a view known, and especially in light of what's sloooowly unfolding in the USA.

    (But then, that is the USA, where Volkswagen Audi Group has had to shell out $millions in compensation over the Dieselgate fraud but not a penny in the UK. . .)
    Originally posted by PhylPho

    Ask MSE / Martin Lewis then, you won't get an official response on here and Martin has nothing to do with the forums.
    • Tarambor
    • By Tarambor 14th Feb 18, 2:26 PM
    • 2,847 Posts
    • 2,059 Thanks
    Tarambor
    • #5
    • 14th Feb 18, 2:26 PM
    • #5
    • 14th Feb 18, 2:26 PM
    There is a massive difference between the UK and the USA. In the USA the records also include stuff like social security numbers. In the USA when applying for finance you are asked for your social security number and stupidly that is accepted as a proof of ID making it very easy for someone to take out a loan in someone else's name if you have it. In the UK CRAs don't have it and no loan company accepts it as proof of identification.

    Basically the higher standards of proof you are who you say you are in the UK means the effects of the leak that have happened in the USA won't happen in the UK.
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