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New Senate bill gives FTC enhanced cyber oversight of Equifax, other credit agencies

January 11, 2018 |
Charlie Mitchell
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A bill introduced Wednesday by Sens. Elizabeth Warren (D-MA) and Mark Warner (D-VA) would impose stiff fines on credit rating agencies that fail to protect consumer data, while establishing a new cyber office at the Federal Trade Commission to regulate so-called CRAs.

The senators are offering the “Data Breach Prevention and Compensation Act” as a response to the hack at Equifax that exposed data of approximately 143 million Americans.

The bill would create “an Office of Cybersecurity at the...

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