The Progressive


A project of Common Dreams

For Immediate Release
Contact: Phone: (202) 588-1000

Not Another Golden Parachute! Departing Equifax CEO Could Get Millions as Senate Prepares to Grant Equifax Immunity From Consumer Lawsuits

Statement of Robert Weissman, President, Public Citizen.


Note: In the wake of a cybersecurity breach, Equifax CEO Richard Smith is resigning. Regulatory filings indicate he could receive an $18.4 million retirement benefits package, but a decision about how much he will receive will be deferred until Equifax's board of directors finishes its review of the breach.

Disgraced Equifax CEO Richard Smith runs for the hills - toting $18 million in retirement benefits - with 143 million consumers still left in the lurch. Amazingly, at this very moment, Senate Republicans are plotting to aid and abet more financial industry rip-offs and misdeeds, by overturning a U.S. Consumer Financial Protection Bureau rule protecting consumers' right to join together in class action lawsuits to hold financial wrongdoers accountable.

Public Citizen is a nonprofit consumer advocacy organization that champions the public interest in the halls of power. We defend democracy, resist corporate power and work to ensure that government works for the people - not for big corporations. Founded in 1971, we now have 500,000 members and supporters throughout the country.

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