Economy

New York governor wants credit-reporting firms to follow cyber rules

New York governor wants credit-reporting firms to follow cyber rules”

The Equifax breach revealed personal information including social security numbers, names, birth dates, and addresses.

The Freedom from Equifax Exploitation (FREE) Act introduced by Senator Elizabeth Warren (Mass.) and Senator Brian Schatz (Hawaii) and other Senators would finally correct this wrong and make credit freezes free to all consumers.

To add insult to injury, Equifax is encouraging customers whose information may have been hacked to sign up for "credit file monitoring and identity theft protection" and is offering a free one-year membership to TrustedID Premier.

South Dakota's Attorney General is joining his colleagues from other states in requesting that the nation's three credit bureaus take more steps to protect consumers following a massive data breach.

I will continue to hold Equifax and other companies that compromise our information accountable, and make sure Ohioans have the resources they need to ensure their financial lives aren't ruined by corporations' carelessness.

That letter also talks about charges by credit reporting companies for freezing a consumer's credit - a move many many people are considering that move because of the Equifax data breach.

Atlanta-based Equifax discovered the hack in July, but only informed consumers last week.

In a post on Equifax's investor website, the company said the "personnel changes are effective immediately".

Andrew Cuomo has announced plans to require all credit-reporting agencies to register with the state and comply with its cyber security regulations.

If you're anxious, get a copy of your credit report as it is one of the first places you can spot if someone is misusing your personal information. There is also usually a fee to unfreeze credit. The credit monitoring company divulged the number following an investigation. The credit reporting agency announced the breach on September 8 and confirmed the breach occurred between mid-May and July.

Data of up to 400,000 British customers of the U.S. credit rating firm Equifax may have been accessed during a large-scale data breach that occurred between mid-May and the end of July this year.



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