And they should have been held accountable, were they?
If such an entity demonstrates gross negligence yet there are no repercussions, perhaps it is worse than negligence, it is outright larceny - Equifax could be characterizes as a govt supported cartel.
It is not unreasonable then we should actually physically destroy their premises and all related collected information as an active threat to the nation, as well as re-issuing all sensitive information to all affected individuals.
As for what to do instead, credit reporting need not be the important solution, rather one part of an accepted solution, such as multiple scores issued to multiple numbers that are not tied together by a single bureau. Then when credit checks are pulled it is not sufficient to use a single service and the incentive to illegally utilize said information decreases, as the relevance is reduced for any one credit check.
If such an entity demonstrates gross negligence yet there are no repercussions, perhaps it is worse than negligence, it is outright larceny - Equifax could be characterizes as a govt supported cartel.
It is not unreasonable then we should actually physically destroy their premises and all related collected information as an active threat to the nation, as well as re-issuing all sensitive information to all affected individuals.
As for what to do instead, credit reporting need not be the important solution, rather one part of an accepted solution, such as multiple scores issued to multiple numbers that are not tied together by a single bureau. Then when credit checks are pulled it is not sufficient to use a single service and the incentive to illegally utilize said information decreases, as the relevance is reduced for any one credit check.