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Equifax breach leads to class-action lawsuit for business owners

The Equifax breach has been an ongoing and developing story over the last couple of weeks. This breach leaked the information of hundreds of millions of people, possibly leaving their credit scores vulnerable to identity theft. The breach could affect many people for years to come, and some of those people are business owners. That's why a class action lawsuit was filed today on behalf of 28 million business owners in the United States against Equifax.

When you consider the risks of running a business, near the top is the ability for business owners to secure new lines of credit so that they can fund their business and expand their operations, however that may be. With the credit scores and personal information of hundreds of millions of people out there, those lines of credit could be very difficult to secure now if a business owner's score is corrupted or misappropriated by an identity thief.

It's especially harsh because business owners have their personal score and their business credit score. This Equifax breach can hurt them in multiple ways, and this lawsuit seeks to rectify the horrible breach that was announced earlier this month.

There is also the side of Equifax in this situation. They lost their chief information officer and chief security officer in the wake of this breach, and their public image has taken a massive hit. The fallout from an incident like this can forever change the public's perception of a company.

Source: 11alive.com, "Class-action Equifax lawsuit filed in Atlanta federal court," Tim Darnell, Sept. 20, 2017

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