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Equifax Bonds Crash As FTC Confirms Investigation Into Massive Hack

Courtesy of ZeroHedge. View original post here.

While not entirely surprising given the demands from politicians, The Hill reports that The Federal Trade Commission on Thursday announced that it had launched an investigation into the Equifax breach that left sensitive information for 143 million Americans exposed to hackers.

"The FTC typically does not comment on ongoing investigations," FTC spokesman Peter Kaplan said in an email.

"However, in light of the intense public interest and the potential impact of this matter, I can confirm that FTC staff is investigating the Equifax data breach."

It is extremely rare for the agency to publicly confirm an investigation.

As The Hill notes, Congress has also been scrutinizing the credit reporting agency. Multiple committees have announced hearings on the breach and on Wednesday the House Commerce Committee invited Equifax CEO Richard Smith to testify before on the company's handling of the crisis.

While many have focused on the chaos in the company's stock price, we note that Equifax bonds have collapsed (with no dead cat bounce) to record lows (record high yields)…


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