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blacktreechaser,

You wrote, So if everyone coughed up the ten bucks or so to put a credit freeze in place with Equifax only.....would that mean that creditors would have to go to the other two large bureaus to get the info they would need to make approval/disapproval decisions???? Thus, putting a major hurt to Equifax??

Last quarter Equifax has revenue of $832.2M. If they were able to collect a $10 fee from every person impacted, they would receive an additional $1,430M in revenue this quarter. This would almost triple their revenue in a single quarter.

Of course the NY AG has also pressured them into providing anyone a free credit freeze. But that offer is only good for 30 days. It also doesn't apply to an unfreeze or freezes/unfreezes in future months.

I suspect if everyone freezes their credit, Equifax is likely to see an enormous spike in revenue. What's more, the increase will persist for years.

The key unknowns are:

1. How many of their corporate customers will abandon them as a result of this fiasco?
2. How much will the litigation cost them?
3. How many people will actually respond by freezing their credit?

Equifax has certainly receive a large reputation scare from this fiasco - as if anyone respected them anyway - and the litigation costs are likely to be significant. But I hate to admit it: I'm guessing that there is a non-trivial chance that this will eventually become a net positive for Equifax... And that's assuming they don't actually do anything else to fix their problems or their reputation.

- Joel
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