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I agree that we've been given clear signals that losing consumer data won't result in any negative repercussions for your business from government. Unfortunately none of us are customers of equifax - the companies we share our data with are. And those companies don't care, and include every bank.

For Capital One, or other companies with which we directly do business, I think there's likely to be more direct ramifications - namely people refusing to do business with them. Letting anyone access your customers' data is a good way to lose those customers.

Wells Fargo did much worse with actually defrauding their customers, ruining some lives, and only got a slap on the wrist.

I, unfortunately, am forced to do business with Wells Fargo. I recently purchased a house using a different lender and they sold my mortgage to Wells Fargo. Nothing I can do about it. I now have to have a Wells Fargo account to pay my mortgage and am just dreading the day when they start adding features to it that I didn't sign up for. About a month after learning they'd be taking over our mortgage, they got slapped on the wrist for some sort of mortgage-related fraud. It's really infuriating. At some point I may refinance just to get it moved to a different bank, but it wouldn't make financial sense to do it just yet.

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