By: Sara Merken, Bloomberg Law

Equifax Inc.’s years-long failure to prioritize cybersecurity left the company vulnerable to a data breach that exposed more than 145 million Americans’ personal information, a Senate subcommittee said in a bipartisan staff report.

“Equifax’s shortcomings are long-standing and reflect a broader culture of complacency toward cybersecurity preparedness,” the staff report said.

The company said it has made progress since the breach to strengthen its operations by hiring new technology officers and IT security professionals and increasing its technology and security spending by $1.25 billion between 2018 and 2020.

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