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Equifax agrees to new corrective measures

Jun 28, 2018 6:30 am
David Lombardo is reporting at Capitol Confidential consumer credit agency Equifax has agreed to adopt new corrective measures as the result of a consent order with eight states, including New York. The agreement comes almost a year after a massive data breach that compromised the private information of 143 million Americans. Under the order, Equifax is required to develop a new risk assessment, improve oversight by its own board, and submit a plan to address the 2017 hack. “In an era of weakened federal government oversight, strong state regulation is essential...New York will continue to lead in supporting a robust state financial services regulatory regime,” said state Department of Financial Services Superintendent Maria Vullo. “New York will also continue in its efforts to obtain relief for consumers who were harmed by the Equifax breach.” The state Legislature this year passed a bill preventing credit agencies from charging consumers to freeze or unfreeze their credit reports. Freezing a credit report is a common measure to prevent identity theft in the event personal information is compromised. Read the full story at Capitol. Confidential, a Times Union blog.
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