“We have made it clear that the arbitration clause and class action waiver included in the Equifax and TrustedID Premier terms of use does not apply to this cybersecurity incident,” the company said in an update to their website. Equifax announced Thursday that the company discovered in July that it was the victim of a massive hack that exposed the personal information, including Social Security numbers and credit card numbers, of an estimated 143 million Americans. The company offered those affected by the hack a free one-year subscription to its credit-monitoring service TrustedID Premier. Those who opt to use Equifax’s free service will be charged after a year if they do not actively cancel their subscription. Shortly after the announcement, people on social media pointed out the arbitration clause buried in the product’s terms of use which bars customers from participating in any class-action lawsuits against the company.

Source: Huffington Post September 09, 2017 06:33 UTC