- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By Jeff Dale2023-10-13T18:57:00
The Financial Conduct Authority (FCA) fined Equifax’s U.K. unit more than 11 million pounds (U.S. $13.3 million) regarding the company’s 2017 data breach that affected approximately 13.8 million U.K. consumers.
Equifax was originally fined nearly £16 million (U.S. $19.4 million) but qualified for a 30 percent discount under executive settlement procedures, the FCA announced in a press release Friday. The U.K. regulator also noted Equifax received a 15 percent credit for its cooperation and remedial efforts.
Equifax failed to manage and secure U.K. consumer data outsourced to its parent company in the United States, the FCA alleged.
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2023-10-16T21:16:00Z By Jeff Dale
Software company Blackbaud agreed to pay $49.5 million in a multistate settlement addressing charges related to a 2020 cyberattack that exposed the personal data of approximately 13,000 consumers.
2020-01-21T19:40:00Z By Jaclyn Jaeger
A massive data breach that was “entirely preventable” will cost credit-reporting agency Equifax another $1 billion to beef up its cyber-security efforts.
2019-07-22T19:45:00Z By Jaclyn Jaeger
What resulted in the largest-ever breach of consumer data culminated in the largest data breach enforcement action in history.
2025-04-18T17:45:00Z By Oscar Gonzalez
The U.S. Consumer Financial Protection Bureau continues to unravel amid pressure from Trump administration officials to shutter the agency. Not only has the agency informed its employees that it will no longer be a watchdog for the financial services industry, it has also laid off employees despite court orders blocking ...
2025-04-15T07:30:00Z By Aaron Nicodemus
The Consumer Financial Protection Bureau dropped yet another consumer protection lawsuit against a bank or fintech provider since Donald Trump was sworn in as president in January. This time, it was with Comerica Bank.
2025-04-11T08:00:00Z By Adrianne Appel
Block Inc., maker of the popular Cash App, has been hit with a $40 million fine by New York for its alleged failure to report suspicious activity. The move marks the latest in a string of recent state and federal enforcement actions against the company.
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