credit scores

Should CFPB have more power over credit reporting agencies?

10/10/17

CFPB Director Richard Cordray is using the Equifax breach to suggest the CFPB be given power to examine credit reporting agencies for potential cybersecurity lapses.

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As ex-Equifax CEO testifies, all credit bureaus are on trial

10/03/17

Richard Smith came to Capitol Hill this week to speak about the massive breach at Equifax, but it was clear Tuesday that he will be defending the entire credit reporting industry.

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Equifax made major errors that led to hack, Smith concedes

10/02/17

Equifax Inc.’s former chief executive officer said the credit-reporting company didn’t meet its responsibility to protect sensitive consumer information, confirming that the failure to fix a software vulnerability months ago led to the theft of more than 140 million Americans’ personal data.

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Five questions for U.S. Bancorp’s new head of consumer banking

09/29/17

Tim Welsh has spent his first two months on the job thinking about how to make U.S. Bank as central to consumers’ lives as Amazon, develop new personal financial management services, and expand into new cities.

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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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IRS bill could reduce need for Equifax, other credit bureaus

09/28/17

Rep. Patrick McHenry, R-N.C., plans to reintroduce legislation requiring the IRS to fast-track income verification, which proponents say could reduce the financial industry's dependence on credit bureaus.

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Equifax breach threatens small businesses, too

09/27/17

It’s not just consumers who are worried about identity theft. For the millions of business owners who rely on their personal credit to finance operations, damage to credit scores could have dire consequences.

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Equifax's business model under growing scrutiny

09/26/17

As Equifax sheds its top execs, more experts are casting attention on the business practice of charging consumers for monitoring their personal data at bureaus that otherwise give them little control over their financial identities.

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The last thing Equifax needs is leadership continuity

09/26/17

Inevitably, Equifax’s CEO Richard Smith has left his post. For the credit bureau's sake, let's hope it has a long-term plan that's better than promoting from within.

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Lawmakers to grill Equifax, Wells CEOs in busy week of hearings

09/21/17

The hearings before the Senate Banking Committee have high stakes for both companies, as lawmakers are expected to ask the CEOs whether they should be fired.

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