IRS awards Equifax no-bid, $7.25 million contract after hack

Equifax Data Breach: 2.5 million more consumers affected, ex-CEO faces Congress

Rep. Joe Donnelly, D-Ind., said that he sent a letter to Smith after the hack asking how the company would help active military personnel who were overseas and might not have time or access to correct the problems related to their credit data after the hack.

"The criminal hack happened on my watch".

"It seem to me you've accomplished something no one else has been able to accomplish: you've brought Democrats and Republicans together in outrage and frustration over what's happened", Anna Eshoo, a California Democrat, told Smith towards the end of his three-hour testimony, the first of four hearings he is scheduled to attend this week.

While Equifax's old CEO testifies in front of Congress, the company laid out a lucrative new salary package for its new CEO, Paulino Barros, Jr.

Barton said it's time "some teeth" be imposed on the federal level, possibly by requiring credit agencies to pay consumers when their accounts are hacked.

However, it said the review added about 2.5 million Americans to the list of those affected by the massive cyberattack, bringing the total number of people in the US potentially impacted to 145.5 million.

Equifax has said about 145.5 million people in the USA, 400,000 in the United Kingdom and about 8,000 in Canada may have had their data compromised in attacks that occurred between May and July.

The contract says Equifax was the only company capable of providing the services, and it was deemed a "critical" service that couldn't lapse.

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Former Equifax CEO Richard Smith apologized for the compromise of such information as names, addresses, birth dates and Social Security numbers.

Mr. Smith, who resigned last week, has also indicated that they have been informed of the piracy on July 31, but may not have been aware of the extent of the attack.

"The vulnerability remained in an Equifax web application much longer than it should have", Smith said. But he said, "I don't think I can pass a law that, excuse me for saying, fixes stupid".

However, Equifax has not yet announced how many of its non-American customers have had they data leaked.

"It's like the guards at Fort Knox forgot to lock the doors and failed to notice the thieves were emptying the vaults", Walden said.

Smith said this particular sale opened after the second quarter earnings call and was in line with normal behavior. Smith's prepared remarks were similar to those written for his appearance before the House Energy and Commerce Committee on Tuesday, where he claimed "full responsibility". When Kelly approved the sales, Smith acknowledged in response to questions from committee members, Kelly had known for two days of what Smith described as "suspicious activity" regarding the company's data banks. And on Thursday he will appear before the House Financial Services committee. We wouldn't count on it, though, and there's always the possibility that the IRS will fall afoul of the kind of data breach that prompted this anti-fraud contract in the first place.

"Equifax has forfeited its right to corporate secrets", said Senator Sherrod Brown at a hearing.

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