Equifax Breach Puts Credit Bureaus' Oversight In Question
The day that Equifax said millions of Americans' personal information had been exposed, lawmakers were considering legislation the industry favored. Now, some are calling for tougher regulation.
The Equifax data breach exposed the personal information of an estimated 143. It has led to a lawsuit against the company by the state of Massachusetts, an investigation by the Federal Trade Commission, and the promise of congressional hearings. The episode, though, has revealed that up until now, the big three credit reporting companies have had a lot of clout in Washington, D.C., analysts say.
