CardSystems went out of business as a consequence of credit card fraud. Jonathan James killed himself swearing that he was innocent in relation to the TJX credit card breach. Perhaps orthogonal, but a consequence. Heartland Payment Systems went into pants-on-fire mode after their breach because they were very aware of the consequences CardSystems faced. Their strategy was to fess up and form an initiative for end-to-end payment encryption. They still have incurred over $150 million in costs and continue to face litigation 5 years after their breach. It could have been much worse, there's a per incident fine levied by Visa alone, outside of civil or statutory liability.
Maybe it 'isn't enough,' but that's not the same as no consequences.
Maybe it 'isn't enough,' but that's not the same as no consequences.