Schakowsky Says Sale of Equifax Stock Doesn't Smell Good

The transcript discusses the massive data breach at Equifax, affecting 145 million Americans. It covers the inadequate response, the resignation of the CEO, and the need for more regulation. Proposed legislation aims to protect consumer data, while investigations are ongoing into stock sales by executives. The discussion highlights the challenges of implementing stricter regulations in the current political climate.

What was one of the main reasons for Mr. Smith's resignation from Equifax?

• He wanted to pursue a new career opportunity.

• He was taking responsibility for the data breach.

• He was offered a better position at another company.

• He was retiring after a long career.

How long was the delay between the initial notice of a problem and the realization of the hack?

• One month

• Two months

• Six months

• Four months

What is one of the proposed solutions to prevent future data breaches like the one at Equifax?

• Eliminating the use of credit reports

• Reducing the number of credit reporting agencies

• Allowing companies to self-regulate

• Increasing regulation and standards for data protection

What suspicious activity occurred after the breach was discovered but before the public was notified?

• Executives bought a large amount of stock

• Executives sold over $1,000,000 of stock

• Executives donated stock to charity

• Executives transferred stock to family members

What is Equifax lobbying for in response to the breach?

• To increase their market share

• To reduce their tax obligations

• To expand their services internationally

• To protect themselves from class action suits