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