no.o the answer is equifax is not the victim. customers of equifax? is that correct? ifi believe both are victims my opinion. >> thank you. >> senator nelson. your writtenif testimony, one of your public private partnership on social securities. -- if your that also rethinkingapply to use of passwords and user i.d. askers and i will mr. wilkinson to address this question also. mr. wilkinson,ny you talked about dynamic identities as a way to replace the social security number in modern age. a better to brazil as example where the government issuinge identity technology and issues some sort identity a fight last for three years. go to mr. wilkinson first and mr. smith. is that system working better for the consumer in brazil or is it just a helpful aspect but the job done get against this onslaught which nelson described if his question. are two questions. youour first question, passports,ion use of identifiers as well as social security number. with static information like pass poured or social security number, you have frame work.ak which is why we talk about the for

barros from equifax, and richard smith, the former ceo at equifax. ms. marissa mayer, former ceo of yahoo! incorporated. and karen zachariah for verizon, a parent company of yahoo! since 2017. and todd wilkinson, president and ceo of entrusted data card. i will start with you mr. barros, and ask you to confine your oral remarks as close to five minutes as possible. anything extra can be on the record. mr. barros: good morning. chairman thune, ranking member nelson, members of the committee. thank you for letting me be here today. six weeks ago i was named interim chief executive officer of equifax. i never expected to become ceo under the circumstances. but i am honored to be in this position. speaking for everyone at equifax come i am determined to address all the issues from the breach so we can regain the confidence of the american people. equifax is based in atlanta, you can tell from my accent, i did not grow up in georgia. i am a native of brazil. i have had the privilege of working most of my adult life in the u.s. my children were born here. i'm

-- the equifax problem be entitled to? >> first you're assuming there would be a cause of action under the fair credit reporting act. right now based on news reports there would be no action under the fair credit reporting act. because it was not the credit reporting database that was compromised. were there to be a breach of the credit reporting database, i believe the figure was -- a million? the cap was either 500,000 or a million, but it was consistent with all of the other consumer protection statutes. >> okay, sounds like they have a loophole to close. thank you all. members of the committee may have questions for you. we encourage them to get them in writing quickly to each of you and please answer as quickly as you can, including some mr. smith i asked you for. i thank the chairman and the meeting is adjourned. >>> coming up later today, first at noon eastern national economic council director gary cohn will speak. national security advisor hr mcmaster will join sarah sanders at today's white house briefing. he'll

in the case of equifax, equifax has backpedaled so much and made so many statements about its use of forced arbitration, and it is essentially, we think, has said it is not going to impose forced arbitration at any victims of the breach. but as my friends in the consumer bar say, that is what they are saying today. what will their lawyers be saying in court tomorrow? host: the executives of equifax have been on capitol hill testified before several committees, including most recently before the senate committee. questions from new mexico's catherine cortez masto. [video clip] masto: we havez not had a discussion on the data because the consumers that have had credit freezes, their data was still breached, correct? matter,t does not because that is what they are going to go after. i see, mr. wilson, you are not in yes. isn't that correct? >> yes, senator. sen. cortez masto: shouldn't consumers be able to say i should opt in or opt out? >> this is part of the way the economy goes. when the consumer goes -- sen. cortez masto: the consumer does not have a choice in the data you are colle

what do they intend to do and what is equifax doing to protect those individuals who never gave equifax permission to collect that data, and yet that's how equifax makes its money. off of having that data. so i think -- i'd like to see equifax step up on its own, but since we're not seeing that, i really think the senate has to step up and there's a number of really important things we need to do to protect our constituents. >> this is interesting. stephanie ruhle and i talked about it this morning. the hearings can be frustrating and some people get a sound bite out of it for campaign, but what can the senate actually do? are you even clear on what the jurisdiction is you can have? a remarkable relationship with credit bureaus that i have no choice in the matter. they make their money off my information and i don't get paid any for it but they can lose my information and cost me lots of money and aggravation? >> yes. number one, i believe that the senate must act to require companies that experience a breach or a hack of this nature to inform the people whose information was hacked. so

next to him the former co pay equifax. then the former ceo at yahoo! corporate. the deputy general counsel chief privacy officer at verizon communications a part of yahoo!. then we will ask you to proceed with comments starting a mile left to confine your all remarks at five minutes anything you want to add will be included in the written record. thanks for being here. >> good morning. to members of the committee thank you for the opportunity tof f be here for crow six weeks ago i was named chief executive officer of equifax and never expected to become ceo in this circumstance but i am honored to be in this position. speaking for everyone for those that have been breachedac you can tell from an accident did not grow up in georgia and a native of brazil i had the privilege working most of my adult life in the u.s. and i children were born here. and engineer by training to spend a lifetime fixing complex business problems. said the first act was to address the consumer response so the engagement that they're working hard to

she says since the hack, her identity has been stolen 15 times. >> equifax is a big company. they should have had a security in place to keep personal information secure. >> reporter: like so many americans tonight, van fleet still worrying if her personal information is really safe. jo ling kent, nbc news, washington. >>> three basketball stars from ucla are in hot water tonight after they were arrested shore shoplifting on a team trip to china. among them, the brother of an nba rookie part of a well known basketball family. all three are released on bail, but will they be allowed to return home? keir simmons has more. >> reporter: for these college hoop stars, an alleged personal foul on a very public stage, detained for hours by 20 chinese police, reports say, accused of shoplifting. ucla's freshman liangelo ball, cody riley and jalen hill allegedly involved, questioned about stealing, reportedly from this louis vuitton store, located next to the team's hotel where they are confined today awaiting legal proceedings that reports say could take days or months. ucla says it's

equifax at 935% in 2017.eryl: more news for investors is not good disappointing earnings from the company of 20% in overnight trading. the stock continuing to fall in the premarket. down 20%. they lost more than tripled revenue falling for the third straight quarter. the latest setback since the company went public in march in what at the time was the biggest ipo since alibaba technically still is. they will redesign the snapchat message to make it easier to use. their big problem is instagram. instagram globally is getting more traction and a lot more users. snap can't keep out. lauren: i understand instagram. easy-to-use. i struggle with snap. i'm not 16. it's tough. writing in a taxi with no driver at the wheel could be reality the next couple months. what about testing a robot near phoenix. the chrysler minivan do have a human being in the car but in the backseat where they can pull over the vehicle with the touch of a button. also that, what a year at 31% so far. $1052 a share. cheryl: still not ready fo

earlier this year, an equifax hack put more than 145 million american's identities at risk. in 2013 a yahoo breach impacted 3 billion users. sen. bill nelson: at this point, i'm wondering there's no such thing as data security. senator bill nelson asked yahoo's former ceo how the company ácould haveá protected itself. marissa mayer: even robust defenses and processes are not sufficient to protect against a state sponsored attack. jessica smith reporting: most of the hearing focused on the equifax -- lawmakers grilled the interim ceo and former ceo about how they handled their massive data breach.equifax interim ceo: our top job must be to protect the data entrusted to us. we did not meet the public's expectations. senator tammy baldwin asked equifax about who was behind the attack, and what they'll do with the data. sen. tammy baldwin (d-wi) : can you identify if any of you have that information today? interim equifax ceo: no, we have no evidence. .she also pressed the company on why executives sold stock, before the breach was made public. sen. tammy baldwin (d-wi) : this i

we know with equifax it was woefully low.ed on early information we're seeing from uber, they didn't pus enough dollars behind that. why? putting too many dollars in their pocket. and the reality is, the american consumer deserves to know that if they're handing over their credit card information, if they're trusting a company like uber with their personal data, that uber is investing the necessary amount of money to keep that data safer. and until we set a clear example with equifax, with uber, with others, to state attorney generals and law departments these breaches are going to continue. we have to make sure these companies put a premium on investing in the security of the american people's data. >> i don't carry cash because i do everything i do electron electronical electronically, credit cards or on my phone. every one of these apps has that stuff. equifax, where are we? you're one of the attorney generals takinged lead? >> up to 48 attorneys general now in the equifax data breeach and received many, many documents we'

target, home depot, equifax. things have not moved swiftly enough. >> be good if that's one of the outcomes here that we decide why and what circumstances people should be informed. >> these hearings are massively important. the problem when you hear any of them, it's just lawmaker after lawmaker getting on their pedestal speaking, shouting, then you don't see a change. after this we need to see a change. >> tony, thank you for being with us. tony romm from recode. nice to have you in studio with us. >>> stick around, everyone. right now republicans in the house and senate are working on their own tax plans and we are hearing about the big differences between the two versions. which deductions are at stake and what it could mean for your tax returns. >>> and we're watching the markets for you this hour. right now the dow is off about 25 points. nothing to be made of that. it's about 0.1%. >> we are paying attention to saudi arabia. we're todaying attention to oil prices. that matters. >> we're worried about what

earlier this year, an equifax hack put more than 145 million american's identities at risk. in 2013 a yahoo breach impacted 3 billion users. sen. bill nelson: at this point, i'm wondering there's no such thing as data security. senator bill nelson asked yahoo's former ceo how the company ácould haveá protected itself. marissa mayer: even robust defenses and processes are not sufficient to protect against a state sponsored attack. jessica smith reporting: most of the hearing focused on the equifax -- lawmakers grilled the interim ceo and former ceo about how they handled their massive data breach.equifax interim ceo: our top job must be to protect the data entrusted to us. we did not meet the public's expectations. senator tammy baldwin asked equifax about who was behind the attack, and what they'll do with the data. sen. tammy baldwin (d-wi) : can you identify if any of you have that information today? interim equifax ceo: no, we have no evidence. .she also pressed the company on why executives sold stock, before the breach was made public. sen. tammy baldwin (d-wi) : this i

. >> people back home cannot understand how the ceo of equifax and the ceo of yahoo walked away withillion. >> reporter: equifax says it's quadrupleing its security budget. >> we are spending significantly more money in that process. >> reporter: watching closely, a class action lawsuit against equifax. she says her identity has been stolen 15 times. >> equifax is a big company, they should have had the security in place to keep personal information secure. >> reporter: like so many american, she still worrying if her personal information is really safe jochlene kent, nbc news, washington. >>> at&t's $85 billion bid to buy time warner has hit a major snag due to the tensions between the companies and the justice department ill bill, we need to have you with us. break it down for us, what's the issue at hand and could it prevent this issue from actually getting done? >> i think this would never be a straight forward deal. with the companies, one will tie things up at the end of this year, we heard that time line was uncertain, the reason for that becoming clearer overnight. nbc report

equifax shares are down more than 25% since the breach was announced.s will also be looking for any commentary on how much the breach has cost the company. guys, back to you. >> no sell ratings >> okay. >> i know. >> okay. >> we're just pointing that out, aditi. we'll see if that changes. >> i know. >> just making sure we heard right. >> hasn't changed yet. >> we will come back with seven minutes left there the trading session. the dow down 95 points we have the "closing countdown" momentarily for you. >>> then after the bell in addition to equifax, we're going to get earnings from disney, lions gate, rdronostm, nvidia among others we're going to bring you all these results as soon as they're out. stay with us the classes, the friends, the independence. and since we planned for it, that student debt is the one experience, i'm glad she'll miss when you have the right financial advisor, life can be brilliant. ameriprise whuuuuuat?rtgage offer from the bank today. you never just get one offer. go to lendingtree.com and shop multiple loan offers for free! f

the current and former ceos of equifax testified as did the former ceo of yahoo!. they started off apologizing. but that wasn't enough for some lawmakers. aditi ro >> reporter: former yahoo! ceo melissa meyer took the hot seat today, under subpoena, answering questions from the senate commerce committee about the company's data breaches. >> yahoo! is the victim of criminal state sponsored attacks on its systems resulting in the theft of certain user information. >> reporter: she started with an apology for the 2013 breach that involved 3 billion or virtually all of the company' users. >> as ceo, these thefts occurred during my tenure. and i want to sincerely apologize to each and every one of our users. >> reporter: meyer, who testified before the committee alongside equifax's current and former ceos, said yahoo! learned about the 2013 breach last year. that russian agents were behind the attack but questions about how it happened still remain. >> to this day we, as i understand it, still have not been able to identify the intrusion that led to that theft. which is

in september equifax disclosed the personal information of more than 145 million americans that were exposed earlier this month verizon said a previously disclosed hack in 2013 affected roughly 3 billion counts. back over to you. >> going back to that facebook story so good to see it continue to grow even though a teenager told me that's for old people. >> oh, really? they are all on snapchat and instagram these days. >>> 4:41. happening today, president trump says he is announcing his choice for the next chair of the federal reserve. according to reports expected to be fed governor jerome powell, former president barack obama nominated powell, a republican, to the board of governors back in 2012. current chairwoman janet yellen is the central bank's first female leader her four-year term ends in february and it appears she will be the first fed chair since 1979 not to be reappointed to the job. there are 12 fed banks including one in san francisco. >>> happening today help coming for businesses that were affected by the wildfires in the north bay. today the small business administra

any minute now current and former executives of equifax and yahoo! will take the hot seat to testify before the senate commerce committee. marissa mayer had declined multiple offers to testify before being subpoenas to appear today. the 2013 breach affected, are you ready for this number, 3 b, that's a b, billion yahoo! users. nbc's jo ling kent is there on capitol hill. i know whether it's marissa mayer or equifax, what i want to really ask those two if i was one of those senators would be about their extraordinary golden parachute packages. the amount of money those two get to walk out the door with after disastrous breaches is stunning. but unfortunately, stunning but legal. what are we actually getting here today? >> reporter: steph, i definitely am hearing that that will be the case, that is certainly on the agenda is exactly how much these leaders walked away with as ceos. you can see behind me right now the interest in this particular hearing is pretty high. and what's going to be on the agenda is really consumer protection here as you mention

if you're one of the 143 million people whose files are part of equifax, you're thinking it's critical because it's the critical information that's important to you. in answering that question, we really have to be thinking much more about this definition. i struggle a little bit and i know dhs came out to look at how we're defining section 9. because section 9 evolves as time evolves and the correspondent threats. i agree with everything that scott said about how we look at it, and i think given the industry that scott's in, and particularly with the unfortunate exercise of what they're going through right now. what i would argue is that the challenge we have had with government and industry tends not to be in response, government does internet response really well. we heard from aaron hughes about dpd 41. we react to cyber security very effectively. the other example that we use a lot is looking at obama care, we spent a lot of time putting that together, and then it failed and then 60 days later we had a fantastic system. regardless of where you stand on the issues as far as technol

is not much that they could say and this is why you heard a lot of apologies from both yahoo and equifaxboth companies said that, look, we worked with law enforcement officials when we first learned of these hacks. we will continue to do so. in fact, the former head of equifax had said, look, i think there needs to be some more cooperation between public and private in terms of trying to secure people's data. from iphones to our television production, apple has acquired the rights to a new drama series as the tech giant competes with amazon and couudein tech giant competes with amazon and collude in their ambition to take over hollywood. for more on this story werejoined by over hollywood. for more on this story were joined by monica. they are awash in cash and they can purchase whatever they want. yes. including a television show with jennifer aniston and reese witherspoon. they have committed to do series of this unnamed drama series that will be about american morning television. at this point, a spokeswoman says they are looking to bring in another big name, steven spielberg. they wa

. >>> former equifax chair smith. the equifax breach exposed data of 145 million americans.against yahoo! in 2013 affected some 3 billion users. mayer said it's not enough. >> it's not enough to protect against a state-sponsored attack. >> in 2014 russian hackers hit yahoo!. this year they filed criminal charges in the case, the first against russian agents for cyber crimes. >>> and, anne-marie, beginning tomorrow you can begin having breakfast at tiffany's at its flag ship store. you can order a coffee and croissant for $29. don't be alarmed. you get more. remember she had to settle for eating her pastry outside. >> she did. that was the opening scene of that iconic movie. but at $29, might be grabbing a bagel and standing ontown street too. a little steep. it is tiffany's though. diane king hall. thank you. >>> class act, former gang members are going back to school in a special program that offers special incentives to graduates. for my joint pain. s now? watch me. ♪ think i'd give up showing these guys how it's done? please. real people with active psoriatic arthritis ar

. >>> equifax apologized again for massive data breach. said executives won't be receiving bonuses and expected to cost them. equifax still has not notified millions of consumers that their personal financial information may be in the hands of criminals. so far more than 240 class action lawsuits filed related to this incident. >>> duncan doughnuts is a page out of rule book. two new doughnuts. frosted sugar cookie and ginger bread cookies. wash it down with peppermint mocha and brown sugar cinnamon coffees. >>> join me in san francisco this friday, answering consumer questions and showing you how to check to see if you have unclaimed cash waiting around for you to claim. all of this friday from 4:00 to 7:00 p.m. at ghirardelli square in san francisco. bring questions. >> great stuff. >> can you get the dunkin doughnuts for friday free stuff? >> hi there everyone. live doppler 7, we're tracking a system that's pretty light. notice that the rain is right now in the east bay, it's most concentrated there, as i show you street level radar fro

but mac>> reporter: some consumers took extra precautions after the equifax breach. >> i did a freeze on our credit.>> reporter: bottom line most consumers won't be on the hook for fraudulent charges. businesses could stand to lose billions.>> the merchants are the most at risk for loss. >> reporter: the threat metrics ceo has one bit of advice. you should check your bill to see if there is a small charge. often times criminals will use that to test a card before they use it.>>> macy's unveiled a holiday tradition at union square. spca and macy's are teaming up to bring cats and dogs to the holiday we -- windows. in the hopes they will be adopted. be sure to stop by and visit the animals. they would love nothing more than to find a home for the holidays. more than 9000 animals have found homes through this annual holiday event.>>> the holiday travel rush is underway with today being one of the busiest travel days of the year. 169,000 passengers were expected to fly in or out of sfo today. 14,000 more than on a normal day. jesse with more on the holiday rush from san jose international

. >>> new details emergiining abo equifax. compromised the data of nearly 150 million people we'll tell you what management is saying about that breach next. >>> later, panera's ceo speaking out today about competition in the restaurant industry and weighs in on the latest efforts by starbucks to get into the bakery business. more business news -- business creep here e longel r you what he said when th"csi bl"eturns of pacific? it's life insurance and retirement solutions to help you reach your goals. it's having the confidence to create the future that's most meaningful to you. it's protection for generations of families, and 150 years of strength and stability. and when you're able to harness all of that, that's the power of pacific. ask a financial advisor about pacific life. ray's always been different. last year, he said he was going to dig a hole to china. at&t is working with farmers to improve irrigation techniques. remote moisture sensors use a reliable network to tell them when and where to water. so that farmers lik

. >> reporter: matt barnett says the equifax breach was game-changing. a gold mine of information for hackers. >> the social security numbers, date of birth, all the key components of identity theft are in a single package. >> reporter: he says equifax reportedly failed the most crucial test. >> one of the things they had was a weak password. they actually had an account where the password was admin and the user name was admin, a common default setting. >> reporter: the ceo apologized to the country but is not alone. experts warn countless businesses are behind the curve, vulnerable to cyberattacks that could be prevented with strong encryption. >> we're starting to see an increase in the use of encryption. an increase in the use of https, the secure version of browsing websites. those are good indicators that the company is doing the right things to be safe with your data. >> reporter: what can you do? enroll in credit monitoring, consider a credit freeze, and final your taxes early this year so nobody else steals your refund. randy gyllenhaal, nbc10 ne

. >> in the hot seat, the former ceo of yahoo, marissa mayer, along with the ceos from equifax testifyinghill about cybersecurity breaches >> we start with the markets this morning, down a little bit. the dow coming off its sixth straight day of gains. just fractional declines though. this as we hit the one-year mark since the presidential election where we have seen all the major averages rise over 20% so where do we go from here? let's bring in liz ann saunders from charles schwab, and gabriella from jpmorgan. reflecting on one year, what strikes me is how wrong everybody was, not just about the election but what stocks would do under a trump win so easy to find. you find it all over cnbc and some of our competitors. bridgewater predicted a 2,000-point drop in the dow if it happened and look what happened since what did everyone get wrong? >> not to make this a political statement, but i think the primary reason for the move we have had in this period of time were -- was a function of two things that occurred preelection, which is two very important inflection points. one in global grow

can employers still go check with a service like equifax and find out what you made? >> they can. again, it's in terms of timing and sequence. the best advice i think is number one, consult with a real labor law lawyer, not just one who plays one on tv. and number two, it's sequencing. so wait until you're ready to make the offer and then do the background check for the investigation and then disclose to the employee if you're not hiring them why you're not in writing, give them a chance to respond to that. i think that's probably going to be your best bet. >> i've got to go to commercial. charley moore is with rocket lawyer. thank you ever so much for explaining ab-168 and 1008. they take effect january 1st. charley, thanks for being with us. well, up next, too many cooks in the kitchen may spoil the profits. and lyft. the new effort to improve transit in the city. and of course - we )ll be following any breaking developments across the bay area overnight. join us monday on )today in the >>> welcome back to "press: here." one of the ways you can tell an industry is hot is to coun

also reporting earnings, equifax.e a massive hack in which the data of 145.5 million americans may have been stolen. and finally, a slew of department stores will also be reporting results including macy's, and coles. joining us is jane foley, senior currency strategist, rabobank. good morning. alice, samirtalking about some of the stories in the markets. what caught my attention todayis markets. what caught my attention today is japan, partly because of the aaron wake. japan seems to be creeping higher and higher in the background. if you include september, japan has had the longest spate of recovery since the second world war. you mean share market recovery or economic recovery? the growth of the economy has been growing for more months than before. it had a really strong... in fact it's been one of the global success stories of the year, japan. is that slow incremental growth? nothing that headline grabbing. we haven't noticed. but there has been this economic expansion. part of it is related to the yen. the value

the other is richard smith, the former ceo of equifax. they were in charge of their companies during the two worst hacks in history. smith and equifax lost 143 million record. that's just about every adult in the united states. mayer, at least $3 billion or less than half the population of planet earth. mayer is no longer the ceo of yahoo!. it's been sold to verizon, which inherits that problem. smith is no longer the ceo of equifax. smith has testified before. he blamed the hack on a single employee who forgot to update open source software, october 3rd. the last time a yahoo! exec was dragged before congress was ten years ago when jerry yang was blasted for turning the accounts over to the chinese government. the late california lawmaker called yahoo! moral pygmies. here is gerald yang. >> immaterial want to apologiz they and their family are going through. >> we will watch that this morning. >>> amazon launches the key. you can allow a delivery person in your home to drop off a package so it doesn't get damaged or wet in the rain. >> l

the federal trade commission also has jurisdiction over equifax. the dodd frank act says only one or the other can do an investigation at the same time. i believe it is the ftc handling it. that is what you have heard the cfpb was silent about it. i believe they are not handling most of that matter. certainly this is even worse than wells fargo. people who had no business with equifax ended up having their information hacked. i doubt when the republicans or democrats, -- nobody is not outraged by this. when i was of the agency i thought the credit rating agencies were probably one of the first and that should've been fixed because if you have a problem with your credit score, you call in and they put on hold for three hours. it is just not run in any way at all in a consumer-from a manner. -- consumer-friendly manner. host: what power does the cfpb to address that? ftc stepsuming the out of the way -- when you have two agencies that have to cornet with each other, if it were just the cfpb alone, they can go in. they can examine, look at all the sys

>> well, i mean, first of all, if i were marissa, i'm not sure i would want to be seated next to equifax i might have asked for a general or puppy or something. look, the issue that marissa is discussing presently, the hack, is going to be an ongoing concern for companies around the world. the level of sophistication that we're seeing in lots of these hacks is growing it's difficult to match with the volume of experts and security that exists in silicon valley. there are not thousands of these people there are handfuls of them who are really, really great and equally sophisticated at it to defend these companies so i think this is going to be a growing challenge for all sorts of tech companies and one that we probably need to be spending a lot more time thinking about. >> so dick, what do you make of maris marissa mayer what sounded to me like some of these attacks, particularly state sponsored, aren't stoppable all the time. what if we had seen a breach at facebook or google or amazon, mega scale players we have not seen successful massive hacks there involving hundreds of millions of a

equifax lost 14 million records, yahoo! at least 3 billion. that's a little less than half the population of the entire planet earth. one of the things we have learned, yahoo! which is now part of verizon, still doesn't know how the hack happened. meyer said, quote, to this day we have not been able to identify the intrusion that led to the theft. smith has testified before. he blamed the hack of equifax on a single employee who forgot to update software. this was october 3rd. the last final a yahoo! expect faced charges was ten years ago. jerry yang was blasted for turning accounts of dissidents over to the chinese government. tom lantos right there called yahoo! moral pig mys, his word. amazon launches that amazon key today. it's a device that allows you to let a delivery person into your house to drop off a package when you're not home so the package doesn't get stolen or wet in the rain. here is a look at facebook headquarters this morning because i can't show you video of what this story is really about. several newspapers overseas report

leslie was concerned about the equifax hack. >> what i wanted to do was explore what my credit reports were before freezing them. >> she ended up on the ex perron website and paid $1 to get our credit report and fie koe score. >> in order to take advantage of that you're automatically enrolled in a program of 21 dplars$24 a month. >> leslie could not find a way to cancel online so she telephoned. >> # 5 minutes -- 55 minutes on hold i timed it before i got someone to help me. it was easy to cancel. >> i asked about the policy and here's what i was told. consumers can cancel by phone or online. when they're in their area there's section, how do i cancel my membership. leslie never found that. the executive director of the consumer federation of california, richard hol burr says deals like this are common. >> this is not an unusual kind of arrangement. for all kinds of products and services where in effect you get a reduced price, sbruktly offer, sometimes a free offer, free samples, whatever that might be, of course you have to provide credit card information or debit card information.

leslie was concerned about the equifax hack. >> what i wanted to do was explore what my credit reportse before freezing them. >> she ended up on the ex perron website and paid $1 to get our credit report and fie koe score. >> in order to take advantage of that you're automatically enrolled in a program of 21 of dplars$24 a month. >> leslie could not find a way to cancel online so she telephoned. >> # 5 minutes -- 55 minutes on hold i timed it before i got someone to help me. it was easy to cancel. >> i asked about the policy and here's what i was told. consumers can cancel by phone or online. when they're in their area there's section, how do i cancel my membership. leslie never found that. the executive director of the consumer federation of california, richard hol burr says deals like this are common. >> this is not an unusual kind of arrangement. for all kinds of products and services where in effect you get a reduced price, sbruktly offer, sometimes a free offer, free samples, whatever that might be, but of course you have to provide credit card information or debit card informatio

emily: we spend a lot of time covering the equifax hack.e consumers been more wary this holiday season? are retailers doing anything differently? patrick: it cuts both ways because breaches have been in .he news a lot, as you said equifax and a lot of the ransomware we heard about so there has been awareness. the holidays are hectic time for all of us in our jobs and also trying to buy presents and do other things. noise allows us to put our guard down a bit and it creates additional risks. .etailers are smart about this retailers recognize this, both online retailers, as well as those who run went of sale systems. they put additional security around at this time of year to protect their consumers. i am curious about the rise of iot devices and the rise of more of these voice-activated systems. does that make us more vulnerable? patrick: no. the iot devices certainly as a consumer, we are all using them in our homes, but you would have to be targeted in order for someone to try and leverage that . amazon and other vendors provide those devi

our digital world to them and it has happened before if you look at yahoo for example order or at equifax a company specialized in credit score ratings here in the united states so it just shows that not all systems obviously are bullet proof and it is possible that something like that certainly could happen again how far reaching that is and how safe the systems is nobody can really tell at this point it seems they haven't quite learned about the importance of security somehow younes quarter on wall street thank you very much. and data security is certainly one of the pitfalls of the new sharing economy and here's another one if you share something you don't own it and if you don't own it you rarely feel responsible for it that's the issue that many cities are confronted with when it comes to bike sharing services concerns are growing among city planners that the bikes are being being used are just clogging up public space. you can't mesut the no frills bright yellow bike with no gears lots of plastic and thick solid group of tires it's a decent short distance bike you can rent one for a

former top executives at yahoo and equifax have apologised at a senate hearing for security breachesns are threatening greater intervention in tech firms' business. and now, what's trending in the business news this morning. widely read from the financial times, a report that "nearly half the benefit" of president trump's us tax shake—up will go to richest i%. that's according to the tax policy center. in the wall streetjournal, the clamorfor tech ipos reaches a fever pitch in asia. online book site china literature soared on its hong kong stock market debut, valuing the 4—year old firm at $12 billion. and most read on bloomberg, what could replace the smartphone? it says apple is "ramping up work" on an augmented reality headset to succeed the iphone. bloomberg says the new device will be ready in 2019. and don't forget, let us know what you are spotting online. use the hashtag #bbcthebriefing. that's it for business briefing this hour. but before we go, here are the markets. up next, news briefing. we'll take you through the stories making headlines in the global media a stellar da

yahoo is the biggest one of all time in 2013 3 billion user accounts had information stolen as for equifaxas stolen from 145 million americans. >> i want to apologize to each and every one of our users. >> i apologize to the american public for the breach that we had.>> they exploited human and technological errors at equifax. lawmakers pressed the current ceo for new cyber security measures at the company. the former ceo of yahoo said hackers get more and more sophisticated every day. the company is still looking into how it's breach happened. >> to this day as i understand it we still have not been able to identify the intrusion that led to the theft. it is to say we have received files from law enforcement that contain yahoo data and we verified that it came from yahoo. we do not exactly understand how the act was perpetrated. >> reporter: so what does this mean for the rest of us? there was one major take away from today's hearing. everyone agreed that the tech industry and the government need to start working together to come up with new legislation for national data security. how it

and equifax. businesses are helpless against hackers. and the senators agreed. >> the threat from state sponsored attacks changed the playing field so dramatically, today i believe all companies, even the most well-defended ones, could fall victim to these crimes. >> your companies can't stand up against them. >> yahoo! blames russia for stealing information on 3 billion of their accounts. equifax isn't sure who broke into their system and took information on some 145 million customers. >>> now to the russia investigation. former trump campaign manager cory lewandowski said his memory has been refreshed. back in march hens not grant permission to anyone on the campaign to travel to russia. former campaign adviser carter page went to moscow in july of 2016. page told house investigators that lewandowski told him he could make the trip as long as it wasn't associated with the campaign. last night lewandowski told fox news that now he remembers receiving page's e-mail about the trip. he said he was too busy at the time to pay much attention

no response on mark zuckerberg just yet and equifax haunted by the credit reporting company says that extra spending on security and lawyers in the wake of the data breach helped push operating expenses in the third quarter to the highest level on record and equifax also warned that the hacking will harm the company's future sales, shares are lower on the news down 1/10 of 1%. we have more countdown to the clozing bell and liz claman right after the break. if you'd have told me three years ago... that we'd be downloading in seconds, what used to take... minutes. that guests would compliment our wifi. that we could video conference... and do it like that. (snaps) if you'd have told me that i could afford... a gig-speed. a gig-speed network. it's like 20 times faster than what most people have. i'd of said... i'd of said you're dreaming. dreaming! definitely dreaming. then again, dreaming is how i got this far. now more businesses in more places can afford to dream gig. comcast, building america's largest gig-speed network. allow you to take advantage of growth opportunities.am gig. wit

equifax lost 143 million records, yahoo! at least 3 billion. that's half the population of the entire planet earth. those hearings will be this morning before the commerce committee. we will watch both for you. smith testified before, he blamed the hack on a single employee that forgot to update software. the last time a yahoo! exec faced congress was ten years ago. he was blasted for turning the accounts over to the chinese government. tom called yahoo! moral pygmies. that was his word. here is jerry yang in 2007. >> i want to personally apologize to them for what they and their family are going through. >> amazon launches the amazon key, the device that lets you allow a delivery person in your house to drop off a package so it doesn't get stolen or wet in the rain. a look at facebook headquarters. andy would not let me show you video of what i want to talk about. >> come on. >> several newspapers report facebook is going to launch a program where you send them your nude photos. i know what you are thinking. i surely have not had enough coffee