It's just a show. Years later and Elizabeth Warren still hasn't proposed any legislation that would penalize companies for not properly encrypting data.
@Spite Knight The last time I said duh was when I was 10 yrs old. We all learned from her questioning that there are hidden motivation by companies when it comes to pain and profit. The current law does not mandate specifically how digital data is to be properly stored and secured to greatly reduce and minimize data when a system is exposed to a breach, and at a time when so much hacking and identity theft is occurring. So what has Warren done, other than dropping the ball after the hearing, when she should be working towards enhance security with a more rigorous security protocol?
@Spite Knight I don't need to provide a list of her duties. But I did point out one and that she has the function to spearhead a bill that would enhance data protection. If she's going to bark about it, then she needs to do something about it, and she didn't. I can't give her recognition.
@Spite Knight I agree that the security protocol should be updated and made more rigorous. But this is a company that profits by not fixing it. Why hadn't Elizabeth Warren spearheading a bill that mandates how data should be stored and encrypted far more advanced than what's currently outlined by the SEC? Clearly the existing protocols are a failure
But she's good at doing what she's already doing. Her skillset is needed in the Senate. I wish she would replace McConnell, he's dead weight that does nothing..
Elizabeth is right. Lets start by bringing users in the loop on credit inquiries. Somebody trying to open a new line of credit under you name? Send an email or SMS to the owner so they can approve or reject. It is not that hard.
Let's not forget, Equifax's self appointed function is to collect information on us, assess our trustworthiness and pass that assessment along to people whom we do business with . . . might as well run a con on us while they're ratting us out or worse.
Exactly! Can’t get housing, utility accounts, jobs, and most of all respect for victims like me whose identity has been black listed and nonstop fraud. That’s ok- 5 years of hardworking doing the best I can- there’s a solution- just need someone like Elizabeth Warren whose willing to listen. Only facts should be discussed given it’s from a credible source. You gotta help with the evidence- facts- it’s the only path to truth.
Wow!!!!!!! I love this woman!!!!!!! She is who we needed in the White House! She is always well informed and goes for the jugular when she has to! Her insight let's us know when we have been screwed over, by who and the reason why! Thank you Elizabeth Warren! Keep up the great work! We're depending on you!
Elizabeth Warren is amazing. Her and Bernie and Katie Porter should be running the country on all levels. The USA is so lucky to have these treasures . Be well, America.
I'll admit, the CEO took the questions like a champ. I really hate when the CEOs try to dodge the questions and run out the Senator's clock. I have more respect for a CEO who takes it like a man (or woman), and doesn't lie or dodge. Not saying what the CEO is doing is right. You shouldn't profit off your consumers after you have a major screw up that puts their credit at risk for a LOT longer than a year. The service should be free indefinitely. That would be their payment to the consumers they screwed by being negligent.
Totally agree. This guy for the most part owned it and didn't throw b.s. word salad. Meanwhile, I.R.S. just awarded them a $7.25 MM no-bid contract. I'm not surprised at all, but still SMH....
End gain the same: big profit, no repercussions. When will Americans vote for candidates, who don't take bribes? ... for candidates, who serve the voter? Information on corruption in the US is publicly available, yet a majority of congress are paid corporate donations.
Why give this CROOK any credit whatsoever? And he did try to deflect from her questions about whether people had to pay after the first year by recommending that people purchase one of their services.
I had to look a few times! Thank you, sir for the comedic relief.. I needed that! Hilarious, and making a point? The credit bureaus DO have a monopoly.
No one cares about your personal information but you - PERIOD! This is why it needs to be illegal to collect, use or sell any personal information without the express written consent of each individual (or entity) and once acquired, proper compensation rendered!!!!
The fact is that the consumers already consent those credit agencies to use their data when they signed up for loans, mortgages, and credit cards. The reason why protecting the personal information is difficult is because it does not change. You can't change your birthday, your mother's maiden name, or in most cases, the social security number. The only way to solve this is to abandon those information and use something like password that you can change after it has been compromised. Most Asian countries use pin number for identification. The ID card is not enough. Warren painted a pretty practical picture on how the credit agencies use this logical flaw to benefit themselves. That has to be stopped. But all penalty and holding the selected few accountable just means others will continue to do the same. It's not enough for the people to change, the game has to change in order to solve the root cause of the issue.
And this my friend is how everything works. Is just like a security company has a band of thieves targeting, beaking in houses and then getting in touch with the victime to offer a security system...
Can someone explain to me how Equifax is still operational? It seems to me that being a thief in this country has become a good investment, for it pays off.
I love this Lady!!! I'm not sure what colour ribbon she wears, and I really don't care - she is about as on point and focused as anyone that I have ever seen and is determined to do right by people over business! Not even the monopoly guy in the background put her off - but more importantly, neither is she swayed by attempts to veer off course with irrelevances. 1st female POTUS? I hope so.
Nicolas Mendez - Age is just a number.. Donald TrumP is 73, and look how childish. There is a LOT to be said for Maturity and Experience. FDR governed from a wheelchair. Bernie campaigned hot and heavy and held his own. Like I said, I'd be just as happy with Warren/Sanders. We have got to take this country back.
Guys the company may have a higher idea of allowing the data to be stolen. Now a new system is introduced to protect data which the customer has to pay for their incompetence and the legal system cannot prosecute
Did anyone else catch the dude dressed up as the monopoly guy who was stroking his fake mustache and playing with his monocle behind the CEO at the 3:30 mark? :P absolutely hilarious!
Miss senator, Was the industry changed? I have been watching many of your video clips on RU-vid lately, i'm in a mandatory covid quarantine for my work and watching your videos makes quarantine a lot easier. I am only wondering which of all the ceo's cfo's etc has actually been personally been held accountable for the mismanagement they have done? There will be no change with any of them as they know the fine goes to the business, and in the end being paid by their clients instead of themselves. As you said in one of your videos, if a clerk takes a few 20 dollar notes they can go to jail, but the top level managers get away with scams where they steal hunderds of millions. At most they get a fine of a very small amount, in their world, and are freed from any legal actions after it.
From my experiences in business, it is management that pushes policies that entice employees to do wrong or face getting fired or no pay raises. Department stores demand employees push credit cards that customers don't want and must sell at least a certain number each month or face discipline. As a Biomedical tech I was pushed to sell prescription drugs to doctors offices or not get any advancement. I worked for a top 50 biggest corporation under contract to give biomedical services to hospitals which also produced drugs. I was required to do this on my time, at my expense just to get a small 'incentive'. I remember one cancer drug being pushed to doctor's offices for its side effects with no mention of its main purpose unless the included paperwork was read, which we techs were told to not mention. I refused and quit that corporation. This just one of many things I saw management do.
madame senator, hats off to you.i feel every word you utter is with utmost sincerity and humility.my salutations madame for your passion and care for the American people.
God I love this woman! Please run 2020. Personally, I think this administration either did it or had it done, since not all states would give up our VOTING profiles. Mine did, unfortunately, against my wishes!
Yup, they changed it. Now banks and Equifax have no regulations whatsoever, nor they can be sued for wrong doing. Thank you GOP and Thank you all that voted fot them!
I never put together all the little hacks and figured out that the credit monitor industry is so courrpt and these assholes smelt at the government senators trying to figure out what these company's are doing. The company's should pay consumers for the right To monitor credit.
Can we have THIS incredibly smart lady as our first woman president? Please? She'll go in there to kick ass and chew bubble gum, and be all out of bubble gum - and before she's through all these jokers who screw people like us out of our money will be hurting and things WILL change.
