Log in
Forgot password ?
Become a member for free
Sign up
Sign up
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Nyse  >  Equifax    EFX

Mes dernières consult.
Most popular
News SummaryMost relevantAll newsofficial PublicationsSector newsTweets
OFFRE ETE Zonebourse : Jusqu'à 6 mois offerts sur tous les portefeuilles

Hack Puts Equifax at Risk of Pullback by Lenders -- Update

share with twitter share with LinkedIn share with facebook
share via e-mail
09/13/2017 | 02:31am CEST
By AnnaMaria Andriotis and Emily Glazer 

Banks and other financial companies are considering the possibility of moving some business away from Equifax Inc. in the wake of its data breach and to some of the firm's credit-reporting rivals, according to people familiar with the firms.

Lenders are unlikely to take any immediate action and are seeking more information from Equifax about the hack that exposed sensitive personal financial information about potentially 143 million Americans. Still, large banks, in particular, have expressed dismay privately that their customers' information was compromised, that they received no advance warning of the breach announcement, and that they still have little insight into what went wrong, these people said.

An Equifax spokesman said the company's primary focus is to support consumers. He added that it is also "engaged in ongoing discussions" with its lending customers. He said Equifax's relationships with clients have "always been based on candor" and that the company "welcome[s] the opportunity to address their questions."

Equifax has already faced widespread criticism from consumers. In the aftermath of the breach disclosure many consumers said they struggled with the firm's website and policies.

Equifax is also facing political ire: Two congressional committees are planning hearings into the hack, and the Senate Finance Committee on Monday sent the company a list of requests for information about the attack, the company's response to it, and who knew what and when about the problem.

Executives at financial firms in recent days have publicly expressed concern about the breach. James Dimon, chief executive officer of J.P. Morgan Chase & Co., the biggest U.S. bank by assets, spoke about Equifax twice at conferences on Tuesday.

Mr. Dimon said he is interested in understanding more about whether the hack is the sort of attack that could have happened to any company or if there was something specific that Equifax didn't do correctly. "All that will matter, it's obviously important," he said.

He also said, "It depends what happened and how it happened, whether they could've or should've." Mr. Dimon said that the bank was in contact with Equifax.

Speaking at a conference the day before, Capital One Financial Corp. CEO Richard Fairbank said the cost of the attack would be borne by both consumers and financial companies. "A bunch of our customers are affected," he said. "It's going to be costly to them and to us."

It is unlikely that financial firms would cease doing business with Equifax altogether. But, as contracts with the company come up for renewal, they might look to shift some of their business to rivals such as TransUnion or Experian PLC, the people familiar with the matter said.

For most loans, excluding mortgages, lenders often don't check credit reports from all three big credit-reporting firms. Moving away from Equifax would likely result in more market share to TransUnion and Experian.

The possibility of losing market share could add to the pressure on Equifax, which is already facing lawsuits and investigations related to the breach. The company's stock has fallen nearly 20% since just before the hack was announced last week.

Write to AnnaMaria Andriotis at [email protected] and Emily Glazer at [email protected]

Stocks mentioned in the article
ChangeLast1st jan.
CAPITAL ONE FINANCIAL CORPORATION -0.46% 95.9158 Delayed Quote.-2.33%
EXPERIAN GROUP 0.24% 1867.5 Delayed Quote.13.88%
JP MORGAN CHASE & COMPANY 0.24% 107.81 Delayed Quote.1.16%
TRANSUNION 1.63% 72.87 Delayed Quote.30.60%
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news on EQUIFAX
02:33pPROTECTING CALIFORNIANS' PERSONAL IN : Assembly Committee Approves CAOC -Sponsor..
02:16pEQUIFAX : Reveals Additional Auto Consumer Credit Insights
06/19EQUIFAX : and Oplogic Stop Synthetic Identity Fraud at Michigan Dealership
06/14EQUIFAX : Appoints New Chief Technology Officer
06/14Prospective US Presidential Candidate Howard Schultz Proves Successful Leader..
06/14EQUIFAX : Nomination
06/13EQUIFAX : Judge Rules Equifax Owes Vt. Librarian
06/12EQUIFAX : Judicial Panel on Multidistrict Litigation Issues Order on Equifax
06/12EXPERIAN : Pagar la renta a tiempo puede ayudar con su crédito
06/07EQUIFAX : to Present at the William Blair 38th Annual Growth Stock Conference in..
More news
News from SeekingAlpha
06/14Equifax names former IBM cloud exec as technology chief 
06/11GreenSky Is An Investment In Fintech And Commerce 
06/06Equifax +6% touches four-month high as execs meet with investors 
05/27White Space And Parallel Investments 
05/27Tracking Ole Andreas Halvorsen's Viking Global Portfolio - Q1 2018 Update 
Financials ($)
Sales 2018 3 503 M
EBIT 2018 877 M
Net income 2018 503 M
Debt 2018 2 125 M
Yield 2018 1,26%
P/E ratio 2018 30,95
P/E ratio 2019 23,60
EV / Sales 2018 4,89x
EV / Sales 2019 4,35x
Capitalization 15 010 M
Duration : Period :
Equifax Technical Analysis Chart | EFX | US2944291051 | 4-Traders
Technical analysis trends EQUIFAX
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 129 $
Spread / Average Target 2,2%
EPS Revisions
Mark W. Begor Chief Executive Officer & Director
Mark L. Feidler Non-Executive Chairman
Andy S. Bodea Chief Global Operations Officer
John W. Gamble Chief Financial Officer & Vice President
Jamil Farshchi Chief Information Security Officer
Sector and Competitors
1st jan.Capitalization (M$)
EQUIFAX5.16%15 010
S&P GLOBAL INC22.55%52 170
RELX-7.85%43 956
RELX N.V.-3.47%43 950
WOLTERS KLUWER10.23%16 107