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There could be broader “brand” effects felt as well. A recent report on data breaches from U.S. market research firm Forrester warned of “brand recovery costs” a company may incur in order to regain the trust of customers.

“For example, retailers, restaurants, and hotels may see greater fluctuations as consumers can more easily take their business elsewhere,” it said. “Developing a strategy for an event that undermines credibility or trustworthiness of a brand is more difficult and costs more than a short-term engagement to contain an issue (e.g., product recall).”

A Sept. 14 report from Morgan Stanley on Equifax said that investors had been concerned about heightened regulations for the industry. “This could result in higher compliance costs at best, or nationalization of the credit bureau function at worst,” said the note.

Yet spooked consumers may also be limited in what they can do.

“We are all moving towards a cashless society,” said Bob Hudyma, associate professor at Ryerson University’s Ted Rogers School of Information Technology Management, in an interview.

“Even if I wanted to, I would have to take extreme measures to go off the grid, and that’s really not practical for any of us that want to live in any kind of a city,” said Hudyma. “The answer is you’ve got no choice.”

However, Hudyma noted there were reports Wednesday of a breach of store payment systems at drive-in burger chain Sonic Corp., and that this was seemingly becoming a “weekly” phenomenon.