TalkTalk "Doing a Ratner"
Even if it's true (which I sincerely doubt), existing (and potential) customers won't especially care that TalkTalk isn't "legally obligated" not to be a bunch of cowboys, and will vote with their wallets.
The cavalier attitude alone will probably send them running for the hills, if not the security risk itself.
Personally I've always suspected that any company that spams as aggressively as TalkTalk is highly dubious. This is merely confirmation.