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Tip Nov 2017 "Weighing the Impact of the Equifax Breach"

Tip Nov 2017 "Weighing the Impact of the Equifax Breach"

Tip Nov 2017 "Weighing the Impact of the Equifax Breach"

Excerpt


Are You Plagued by Productivity Busters


Call it ironic that on the very day Equifax went public with news of its massive data breach, Congress was holding hearings on reducing the regulations imposed on U.S. credit bureaus. Long before the recent breach that exposed confidential data affecting about 143 million Americans, Equifax had been lobbying aggressively on issues involving data security and breach notification, as well as proposals to limit exposure to lawsuits. These lobbying efforts have cost the credit reporting agency a reported half million dollars, as Equifax tried to drum up support from lawmakers in Congress. Democrats have been vocal in their opposition to legislation that limits credit agencies’ exposure to class-action lawsuits. Sen. Elizabeth Warren (D-MA), who introduced legislation aimed at cracking down on credit bureaus, and New York Gov. Andrew Cuomo, who wants to expand the state's strict cybersecurity standards for the financial sector to include credit reporting bureaus, are two Democrats who have taken up the fight on behalf of consumers.....



 



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