Equifax breach questions

 Please answer both questions:

Recently, Equifax, one of the three major credit reporting organizations, revealed a major security breach.  Let’s collectively investigate the incident, find and report the facts. 

The second thread is for our governance analysis.   

Was there a flaw in their information security governance?  What could/should have been done differently? Again, be sure to cite your source(s). 

Please provide 300 words for each question with ref(s)