Equifax faces legal claims in dozens of states over the breach, which exposed data including dates of birth, Social Security numbers and credit card information.
The U.S. Department of Homeland Security said that in March, warned Equifax of its online security gap but didn't do anything to fix it.
A person dressed in a black top hat and bushy white moustache, occasionally putting on a monocle or dabbing forehead sweat with giant paper money, sat in the audience of the Senate Banking Committee hearing on the Equifax data breach.
On Monday, Equifax said its breach potentially affected 2.5 million more people than it had previously stated.
Despite Smith's departure from Equifax, which was announced on September 26, the company is still in hot water.
Smith said during the hearing that Equifax will be rolling out its own version of what Warren is proposing, a service in which consumers can lock and unlock their data, by January 31st. But Equifax will be just fine―heck, it could actually come out ahead. He informed the company's lead director three weeks later, on August 22, and board meetings were held on the matter August 24 and 25.More news: The Windows Phone Obituary Has Been Tweeted
Equifax is trying to help consumers while also fixing its security systems, he said.
Anyone who watched video footage of the hearing, which was streaming live on the Committee's website, surely noticed a striking figure peering behind Smith, nearly over his shoulder.
As for Equifax's American customers, the turnout is considerably different.
"The company failed to prevent sensitive information from falling into the hands of wrongdoers", he said.
Security personnel noticed suspicious activity on July 29 and disabled web application a day later, ending the hacking, Smith said.
During his five minutes of allotted questioning, Scott, R-S.C., laid out the timeline Smith had given the committee thus far during his testimony, picking at the discrepancy of when company executives sold stock and when the public was informed of the breach.