21 Oct Equifax Incident Seen to Change US Consumer Data Laws
Observers have noted that lawmakers are looking to capitalize on the public’s outrage generated by the recent Equifax breach by passing bills that will raise the accountability of companies which profit from the information of regular citizens.
Two bills have already been introduced last September. The Personal Data Notification and Protection Act of 2017, sponsored by Rep. Jim Langevin, seeks to compel companies to disclose breaches to affected parties within 30 days, while the Freedom from Equifax Exploitation Act sponsored by Sen. Elizabeth Warren would freeze an individual’s credit for free, indefinitely.
However, it is said that the bills will be focusing on single issues and do nothing to prevent companies such as credit reporting agencies from collecting an individual’s private data.