Congressional Committee to hold Hearing Regarding Equifax Data Breach

Yesterday, the House Financial Services Committee held a hearing on a bill that would gut the protections of the Fair Credit Reporting Act, which is the only law protecting Americans from the ridiculously inept consumer reporting agencies such as Equifax.

Today, the public learned of a massive data breach of Equifax's treasure trove of secret information regarding consumers, including the full names, Social Security numbers, dates of birth and addresses of approximately 143 Americans.

Now, the House Financial Services Committee released the following press release:

"WASHINGTON – House Financial Services Committee Chairman Jeb Hensarling (R-TX) said his committee will hold a hearing on the Equifax data breach that has potentially compromised the personal information of roughly 143 million Americans.

“This is obviously a very serious and very troubling situation and our committee has already begun preparations for a hearing.  Large-scale security breaches are becoming all too common.  Every breach leaves consumers exposed and vulnerable to identity theft, fraud and a host of other crimes, and they deserve answers,” said Chairman Hensarling.

A date for the hearing will be announced at a later time."

Chairman Hensarling, if you want to protect Americans from data breaches and the damage caused by identity theft, your first step should be to kill HR 2359.  Only the Fair Credit Reporting Act stands in the way of Equifax and the other credit bureaus harming Americans by willfully and knowingly reporting erroneous information on Americans' credit reports.  That is the "answer" you seek.  Have you hearing, but start with killing HR 2359 and let the Fair Credit Reporting Act continue to protect Americans.