Equifax Data Breach

The personal information of as many as 143 million people nationwide may have been compromised by an alleged data breach of Equifax’s computer systems. The company discovered the hack on July 29, 2017, yet delayed any announcement for nearly 6 weeks.  As it turns out, cyber criminals allegedly had access for over two months to personal identifying information on Equifax’s systems, such as names, social security numbers, birth dates, addresses, and some driver’s license numbers.

Zimmerman Reed is investigating how financial institutions, including banks and credit unions, were affected by this data breach.  We are interested in learning about the losses your business experienced, including disruption to your lending business, amounts spent for card replacement, covering fraudulent charges, notifying customers of the breach, opening and closing accounts, or any other way you have been impacted.  We are available to answer any questions, please call us at 1.800.887.8029 to learn how we can help you with your potential claim. Zimmerman Reed is one of the leading law firms nationally litigating data breach cases on behalf of banks and credit unions and we can help navigate the next steps.

Equifax Data Breach – What Happened?

CNN reports that from mid-May to July of 2017, Equifax was breached, allowing hackers access to their computer networks.  Equifax allegedly failed to maintain adequate data security safeguards, leaving customers’ private information vulnerable.

Equifax is one of three credit reporting companies that track and rate the credit and financial history of consumers. Equifax is provided sensitive consumer information by credit card companies, banks, retailers, and lenders who have access to individuals’ credit details and activity. Zimmerman Reed partner Brian Gudmundson represents banks and credit unions in several data breach actions across the nation and was interviewed for the law.com story, “5 Things to Know About the First Wave of Equifax Actions.”

Most financial institutions rely heavily upon the three credit reporting bureaus, including Equifax, to receive and provide reliable information in a secure manner.  The full extent of the Equifax data breach upon these financial institutions is still becoming known.  We want to hear from you regarding how the Equifax data breach has impacted your business, and whether you have suffered disruption and losses to your business as a result.

How We Can Help

Zimmerman Reed was lead counsel for banks and credit unions in the Target data breach litigation, and reached a $39 million settlement on their behalf.  Zimmerman Reed is also co-lead counsel in litigation arising from the Arby’s data breach, and serves in leadership positions in litigation arising from the Home Depot and Wendy’s data breaches.  In short, we have proven our ability to help businesses recover losses and expenses resulting from a data breach.  If you would like to learn more about our firm and how we can help, reach out to us at 1.800.887.8029, or fill out a free case review form.