Equifax CEO’s apology fails to reassure investors


Equifax stock plunged Wednesday even though its chief executive Richard Smith apologized in an USA Today opinion piece.
Last week, the credit rating agency disclosed a data breach that may have compromised personal information of 143 million Americans.
Cyber security experts say it was one of the largest hacks ever exposed.
Equifax got a lot of heat for how it has dealt with it.
NYU’s economics professor Joe Foudy says the company gets a failing grade.
(SOUNDBITE) JOSEPH FOUDY, CLINICAL ASSOCIATE PROFESSOR OF ECONOMICS, LEONARD N. STERN SCHOOL OF BUSINESS, NEW YORK UNIVERSITY (ENGLISH) SAYING:
“I think it’s shocking that this data breach happened this summer and we’re hearing about it in September, you know, just a really slow corporate response, knowing they had the…



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