(adsbygoogle = window.adsbygoogle || []).push({}); You have entered an incorrect email address. Quickly see who the memorial is for and when they lived and died and where they are buried. This oasis has remained practically untouched by today's urban sprawl. The change symbolized the company's growing capabilities and prepared the way for further diversification of its activities, from operations centered in the insurance industry to wider marketing functions. [19], In September 2017, Equifax announced a cyber-security breach, which it claims to have occurred between mid-May and July 2017,[20] where cybercriminals accessed approximately 145.5 million U.S. Equifax consumers' personal data, including their full names, Social Security numbers, birth dates, addresses, and driver license numbers. Please help update this article to reflect recent events or newly available information. The U.S. entry into World War II had a serious impact on Retail Credit's business. [36], On 2 August 2022, a week after its CEO Mark Begor was deemed "uniquely qualified to lead the Company" and was granted a $25 million bonus package by Equifax's board, the Wall Street Journal reported that Equifax had sent millions of incorrectly calculated credit scores to lenders. Cambridge, Dorchester County, Maryland, USA. The Cator Woolford Gardens is a mission-driven event space for life's most important moments. There is a problem with your email/password. After a month the task had grown so large that two additional men were hired to assist the Woolfords, and one week later a woman was employed as well. Until his retirement in 1931, he successfully steered the company as general manager, president and chairman. The agency was founded by two brothers Guy and Cator Woolford, in 1899. [77][78] A Heartland Bank spokesperson said the bank "immediately investigated and contacted the credit reporting agencies after Haman reported" she was still alive. Today, we know that company as Equifax. In mid-1992 Equifax agreed to provide consumers with a toll-free number and to begin investigating disputes within 30 days. The company's retail credit reporting activities were restricted to the Atlanta area, while insurance activities were delegated a wider scope. Call toll free: 1-877-842-5215, Top Four Ways To Financial Freedom In 2023, 5 Secret Facts About Credit That You Never Knew, Best Credit Card Practices Ahead of the Holidays, Ways to Use Your Credit Card That Nobody Talks About, 1898: Equifaxs roots begin in this year as a Tennessee-based grocery story. That year also saw Equifax introduce a record 25 new products. You have chosen this person to be their own family member. Oops, something didn't work. Boasting operations in 18 countries and sales in more than 45, Equifax holds leading positions in consumer and commercial credit information in Canada, Argentina, Brazil, Chile, El Salvador, Peru, Portugal, Spain, and the United Kingdom. The same cybersecurity firm was hired following the MayJuly breach. 1979: Retail Credit Company changes its name to Equifax. [12] It is alleged that the hearings prompted the Retail Credit Company to change its name to Equifax in 1975 to improve its image. By taking these steps to mollify the public, Equifax hoped to ward off federal legislation that would mandate costly measures to increase fairness. To add a flower, click the Leave a Flower button. You can customize the cemeteries you volunteer for by selecting or deselecting below. Your Scrapbook is currently empty. This entity was later sold. [41], Equifax primarily operates in the business-to-business sector, selling consumer credit and insurance reports and related analytics to businesses in a range of industries. In New Georgia Encyclopedia. Riley, Michael, Anita Sharpe, and Jordan Robertson, "The New Equifax Boss Wants to Make Amends. Resend Activation Email. (TRW's credit bureau was spun off as Experian Inc. in 1996.). With his brother Guy, a lawyer six years his junior, Cator settled on Atlanta as the site of his new venture. In the fall of 1901, the company dispatched a salesman to the Northeast to drum up business in the home offices of the nation's largest insurance companies. As consumers, we often take for granted all the hard work that goes into building a great company. [42] Credit grantors use this information to decide what sort of products or services to offer their customers, and on what terms. Likewise, Equifax gained the capability to provide additional types of information to clients. In 1989 Equifax had commissioned a poll that showed that 71 percent of all Americans thought they had lost control over information concerning their lives and 79 percent considered privacy a basic right. Think Again", "- AN EXAMINATION OF THE EQUIFAX CYBERSECURITY BREACH", "Breaking: Equifax Knew of Security Flaws Months Before It Was Hacked", "Equifax Suffered a Hack Almost Five Months Earlier Than the Date It Disclosed", "Credit reporting firm Equifax says cybersecurity incident could potentially affect 143 million US consumers", "Equifax to Pay $575 Million as Part of Settlement with FTC, CFPB, and States Related to 2017 Data Breach", "U.S. Charges Chinese Military Officers in 2017 Equifax Hacking", "Data from Equifax credit hack could "end up on the black market," expert warns", "Equifax reportedly used 'admin' as password in Argentina", "Equifax's app has disappeared from Apple's App Store and Google Play", "Here's Why Equifax Yanked Its Apps From Apple And Google Last Week", "Equifax Breach Fallout: Your Salary History Krebs on Security", "Equifax will give your salary history to anyone with your SSN and date of birth / Boing Boing", "Equifax owes you a lot more, but here's how to get $125 from this week's settlement", "Equifax website hacked again, this time to redirect to fake Flash update", "Equifax may have been hacked again and it's not even funny anymore", "Equifax rival TransUnion also sends site visitors to malicious pages", "Malicious Redirects on Equifax, TransUnion Sites Caused by Third-Party Script | SecurityWeek.Com", "After second bungle, IRS suspends Equifax's "taxpayer identity" contract", "Equifax to Pay $250,000 to Settle Charges", "An $18 Million Lesson in Handling Credit Report Errors", "Equifax must pay $18.6 million after failing to fix Oregon woman's credit report", "Jury Awards $18.6M For Equifax Credit Report Mix-up", "Equifax weighs appealing $18.6M award to consumer", "Judge cuts Oregon woman's award in Equifax case", "Woman sues in effort to prove she is alive", "Woman Listed as Deceased Files Lawsuit Claiming She's Alive", "God Just Wants Some Credit, So He's Suing Equifax", "Oklahomans File Lawsuit Against Equifax", "Former Equifax manager charged with insider trading linked to cyber breach", "Former Equifax Manager Charged With Insider Trading", public domain material from this U.S government document, "Equifax Breach Affected 147 Million, but Most Sit Out Settlement", Equifax Consumer Identity Protection website, 2019 Eligibility site related to 2017 data breach, https://en.wikipedia.org/w/index.php?title=Equifax&oldid=1147501990, This page was last edited on 31 March 2023, at 11:16. In 1899 Cator and Guy Woolford, two brothers from Woolford, Maryland, began operations as the Retail Credit Company in Atlanta. The company's purchase of Telecredit was complicated by a sizable drop in the value of Equifax stock during 1990, as investors grew concerned about the stability of the company's profits in an economic downturn. "Equifax." Its customers included retailers, government agencies, healthcare providers, insurance firms, and credit unions, among many others. [10][11] Even though the company continued to do credit reporting, the majority of its business was making reports to insurance companies when people applied for new insurance policies, such as life, auto, fire and medical insurance. We see them around but we don't know what goes on behind the scenes. . These services included identifying theft prevention products as well as credit fraud identity. Although the company sold seven subscriptions rapidly after one of Atlanta's largest department stores bought the first, by the end of Retail Credit's first year only 37 merchants and 47 grocers had signed on board. The Woolford brothers left their own legacies apart from the phenomenally successful business they started. By the end of the company's second decade of existence, Retail Credit was thoroughly established as a significant partner in the life insurance business. Woolford relied on a large number of correspondents, primarily lawyers and merchants in small towns across the Southeast, to fill out reports on people trying to get insurance. The marketing division had sales of $90 million in the first nine months in operation. Cator Woolford (1869-1944), Atlanta businessman, civic leader and philanthropist, founded the Retail Credit Company (the precursor to Equifax) in 1899. With only seven branch offices in operation, Retail Credit proclaimed that it provided a "National Inspection Service," providing reliable reports of uniform quality for insurance purposes. Cator Woolford, Co-Founder Guy Woolford, Co-Founder Equifax Board Members Mark Begor, Director Elane B. [74] An Equifax spokesperson said that Equifax is considering appealing the jury's verdict. In addition to formation of a technology division, brought about by the consolidation of the company's activities in that field, Equifax also acquired Telecredit, Inc., a Los Angeles credit bureau that provided check and credit card authorization services, for $457 million in 1990. Save my name, email, and website in this browser for the next time I comment. As a new century dawned and the company entered its second century in business, Equifax was busy gaining a toehold in the burgeoning world of Internet commerce. Please enter your email address and we will send you an email with a reset password code. [37][38] Equifax acknowledged reporting inaccurate credit scores, but insisted the errors had affected only a few people. Market Value. "[45], According to an October 2017 report from Motherboard, around December 2016, a security researcher examining Equifax's servers found that an online portal, created for Equifax employees only, was accessible to the open Internet. Equifax is a multinational American consumer credit reporting agency that is among the top three consumer credit reporting agencies. Retail Credit attempted to make up the slack by increasing automobile insurance reporting; by the following year, more than one-fifth of the agency's business was contributed by this division. Equifax is one of the three largest consumer credit reporting agencies in the United States alongside TransUnion and Experian. The scenes this browser for the next time I comment 's business credit... 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