Latta Continues Efforts to Aid Consumers in Light of Equifax Breach
At the Digital Commerce and Consumer Protection Subcommittee hearing to further evaluate the cybersecurity landscape in light the Equifax data breach, Congressman Bob Latta (R-Bowling Green), chairman of the subcommittee, questioned witnesses on how best to secure consumers’ credit data in a digital economy. Latta kicked off the questioning by asking Francis Creighton, President and CEO of the Consumer Data Industry Association, what consumers should expect credit reporting agencies are doing to protect their sensitive data in light of the recent Equifax breach. Creighton answered that businesses are monitoring data, testing their systems, and learning from previous breaches to better take care of consumer’s information.
Video of Latta’s questions and witness answers are available here.
“The Equifax data breach was a harsh reminder of the responsibility that credit bureaus and all companies have when holding the sensitive data of Americans,” said Latta. “More than 145 million people had their data exposed due to the breach, and it’s important they receive answers on what steps are being taken to protect consumer information. At the same time, we need to continue our discussion of the laws and regulations on the books to ensure they reflect our current cybersecurity needs.”
In his opening remarks, Latta highlighted the information gleaned in the first hearing on the Equifax breach, and the questions that still remain. That includes what businesses, especially credit bureaus, are doing to prevent similar exposure of sensitive personal data.
Background: The Equifax data breach led to information of more than 145 million Americans’ being exposed. The subcommittee held a hearing last month to hear testimony from Former Equifax CEO Richard Smith.
In addition, the Internal Revenue Service (IRS) announced last month that it had awarded a no-bid contract to Equifax. Rep. Latta helped lead a bipartisan letter to the IRS raising concerns – in light of the breach – regarding the contract decision. The no-bid contract has since been suspended.