Business

Congressional backlash at Equifax data breach spares its business model

By James Langford
Published February 13, 2018 5:01am ET
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Congressional backlash at Equifax data breach spares its business model
"Equifax and other credit reporting agencies have taken advantage of consumers for years, collecting their data without permission and turning a huge profit while failing to adequately protect that data," Sen. Elizabeth Warren said in the report. "These practices won't change without federal legislation." (Andrew Harrer/Bloomberg) | Andrew Harrer

No company wants to be called out by a member of Congress for taking advantage of everyday Americans.

While Equifax didn’t escape that particular fate in a report by Sen. Elizabeth Warren examining the events leading up to the credit-scoring firm’s massive data breach last year, interim CEO Paulino Barros did avoid something potentially much worse: a push for Congress to enact laws allowing U.S. residents to wipe out their credit histories.

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CFPB Congress Credit Cards Credit Scores Cybersecurity Department of Homeland Security Department of Justice Elizabeth Warren FTC James Langford Jan Schakowsky Mick Mulvaney Richard Cordray