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Color of Money: Equifax needs to do better in handling data breach

Michelle Singletary on

I'm still waiting on Equifax to give me what it promised.

Like millions of others, I was informed by the credit bureau that my personal financial information may have been compromised by the company's recent epic data breach.

The Equifax debacle posed a quadruple threat, exposing people's addresses, birth dates, social security and driver's license numbers. Data for 143 million consumers is now out there, quite probably being used to commit identity theft.

To reassure consumers that it was handling this mess, Equifax set up a dedicated website to answer questions and offer free credit monitoring through TrustedID Premier: https://www.equifaxsecurity2017.com.

I went to the site. Here's what Equifax promises from this premier service:

-- A copy of your Equifax credit report.

-- Automated alerts of key changes to your account files with Equifax and the other two major bureaus, Experian and TransUnion.

-- Ability to lock and unlock your Equifax credit report.

-- Scanning of suspicious websites to see if your Social Security number is found.

-- $1 million worth of identity theft insurance, which is supposed to help pay for certain out-of-pocket expenses if your identity is ever stolen.

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