Credit Reporting

‘Maybe credit bureaus are dead?’: Comments of the week

11/03/17

Readers weigh in on a blockchain-based credit bureau, react to the CFPB’s arbitration rule and chime in on calls to invest more in women.

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Can blockchain be used to build a better credit bureau?

10/30/17

Calls for less reliance on credit bureaus and Social Security numbers for verification are leading many to envision a future of identity on a distributed ledger.

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‘Before hitting the panic button…’: Comments of the week

10/19/17

Readers weigh in on online lending growth, how President Trump’s healthcare policies affect lenders, regulation’s effects on community banks and more.

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Beyond the breach: Credit reporting accuracy also under fire

10/17/17

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports.

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Equifax is tipping point for credit bureau reform, lawmakers say

10/04/17

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax.

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Fallout from Equifax breach will hit banks hardest

09/29/17

Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior.

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Equifax’s data flaws are more the rule than the exception

09/28/17

Yes, the credit bureau goofed badly on data security, and it proved to be worse at crisis management. But other companies have been just as sloppy with cyber defenses, and business and government leaders should have tackled these problems long before now.

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Equifax follows Wells' crisis management playbook — with a twist

09/26/17

Equifax observed an increasingly well-worn ritual of scandal-ridden firms by jettisoning CEO Richard Smith: apologize, promise to do better in the future, and sacrifice your top executive in the hopes it will ward off action by Congress and regulators.

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Credit union suit of Equifax may be first, likely won't be last

09/21/17

Summit Credit Union in Madison, Wis., has filed what's believed to be the first lawsuit by a financial institution in connection with the massive data breach.

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Equifax mismanagement extends to damage control

09/21/17

Data breaches and payment hacks require not only tech measures, but crisis management. Had Equifax gotten out in front of the story, particularly during the slow news period of August, it would have earned kudos and perhaps mitigated some of the public scrutiny.

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