The Minnesota Credit Union Network is the latest state league to join the Credit Union National Association and other trade groups and credit unions suing Equifax Inc. in the wake of its massive consumer data breach.
MNCUN noted that the Equifax data breach has “impacted at least” 143 million consumers, compromising not only payment cards, but how credit is extended. The Equifax breach, the agency added, “could completely change” the credit union industry’s ability to rely on consumer data for authentication.
“Credit unions put their members’ interests first,” said MNCUN president & CEO Mark Cummins in a statement. “We want to ensure that Minnesota’s credit unions, and their members, have a strong voice in these proceedings.“
Cummins added that Equifax “needs to be held accountable” for exposing Social Security numbers, birth dates and other personal information.
MNCUN further noted that it has retained Karen Riebel Hanson of Lockridge Grindal Nauen P.L.L.P. of Minneapolis and other attorneys representing the Credit Union National Association, as its counsel.