Ex-Equifax CEO apologizes
The former chief executive of Equifax Inc. plans to apologize for the credit reporting company’s massive data breach when he testifies Tuesday before a congressional committee, as well as detail the missteps in response to the hack that exposed the Social Security numbers and birthdates of as many as 143 million people.
“Equifax was entrusted with Americans’ private data and we let them down,” Richard Smith said in written testimony for the hearing that the House Energy and Commerce Committee released Monday. “To each and every person affected by this breach, I am deeply sorry that this occurred.”
Smith stepped down last week in the wake of the breach, which has sparked numerous federal and state investigations as well as outrage from lawmakers. His appearance Tuesday before the House panel will be the first of three before congressional committees this week.
Smith, who resigned after overseeing the company for a dozen years, said Equifax was hacked by a yet-unknown entity.
An additional 2.5 million consumers may have been affected by the massive data breach at Equifax, the company said Monday, bringing the new total of potentially affected consumers to a staggering 145.5 million.
Lawmakers are expected to question Smith on how the company allowed the breach to occur, why it took as long as it did to notify consumers and what’s it’s doing to help consumers protect themselves. The House subcommittee holding the hearing has jurisdiction over e-commerce and consumer protection issues.