Auto financiers face a growing challenge that has been flying under the radar – shadow hardship. Equifax Senior Solutions Consultant Ashley Schumacher recently highlighted this issue at the 2023 Automotive Finance Forum. In this post, we’ll delve into what shadow hardship means, its implications for auto financiers and solutions to protect your business from this hidden pocket of risk.
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Veda and the Consumer Action Law Centre (Consumer Action) have agreed upon a conciliated resolution to the representative complaint lodged by Consumer Action with the Office of the Australian Information Commissioner (OAIC), in respect of Veda’s ABR Gazette commercial information service.
Equifax Australia and Equifax New Zealand systems were not compromised by the recent cybersecurity incident in the U.S. The Equifax U.S. web server that was targeted is not a component of the Equifax Australia or Equifax New Zealand infrastructure, and Equifax has found no evidence that the U.S. cybersecurity incident impacted personal information of consumers in Australia or New Zealand.
Consumers who purchased a MyCreditFile Express product which was available from 12 March 2014, may be eligible for a refund from Equifax (formerly Veda).