by | Sep 14, 2017 | CBS Radio Report

EquifaxThe credit monitoring company Equifax is hoping to win back the public’s trust; but it’s off to a rocky start. Last week Equifax announced that it had been hacked by criminals that obtained the personal information of 143 million Americans. Information that included names, addresses and social security numbers. To make up for this failure in protecting your assets the company said it would give anyone affected a free one year subscription to its credit monitoring service. However there was a catch. When you signed up, the company asked for your credit card information because after the free trial ended your card would be charged unless you called the company to cancel the service. That didn’t sit well with people who felt the company owed them instead of the other way around. So now Equifax is announcing that it will not ask people for their credit card information and people using the free trial will not be charged or have a membership automatically renewed. It’s hard to ask people for private information a second time when you’ve already made what they do have public.

Brian Banmiller

About Brian

CBS News Radio national business journalist Brian Banmiller has spent more than 40 years in the news industry, covering business, politics and the economy on television, radio and in print. Currently, his “Banmiller on Business” reports are delivered to an audience of millions nationwide.

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