Equifax agrees to pay $700M to settle breach probe


Equifax Inc. agreed to pay up to $700 million to resolve U.S. federal and state investigations into the 2017 hack that compromised some of the most sensitive information of more than 140 million people.


Equifax nears $700 million settlement of probes into data breach


The agreement with authorities including the Federal Trade Commission and state attorneys general — and possibly the Consumer Financial Protection Bureau — may be announced as soon as Monday.


Senior House Republican proposes credit reporting changes


A bill by Rep. Patrick McHenry, R-N.C., would give the CFPB authority to oversee cybersecurity efforts at the credit bureaus.


Will Libra force Congress to act on data protection?


Almost two years after the Equifax breach led to a congressional uproar but minimal policy change, the protracted fight to enact data security and privacy reform has a new bogeyman.


Financial Services Committee passes bills to reform credit reporting


Legislation backed by Democrats to reform the credit bureaus and allow consumers greater access to their information advanced without any Republican support.


Equifax breach still poses fraud risk at four government agencies: GAO


The watchdog and three Democratic lawmakers urged the agencies to stop using knowledge-based verification methods to grant access to their online portals.


What’s behind the rise in credit card delinquencies


It’s no coincidence that with more than half of consumers ages 20 to 29 now holding credit cards — up from 41% in 2012 — 90-day delinquency rates are at a seven-year high, according to the New York Fed.


Equifax, FICO join forces to give banks one-stop analytics product


The new cloud-based solution is intended to help financial institutions make quicker credit decisions by integrating consumers’ histories with advanced software.


CFPB, FTC need more teeth in dealing with credit bureaus, GAO says


The watchdog’s report — requested by Sen. Elizabeth Warren, D-Mass., and Rep. Elijah Cummings, D-Md. — called for civil money penalty authority and better supervision to guard consumer data.


Banks won’t be able to remain on sidelines of privacy debate


The data breach at Equifax and Facebook's scandals have made data privacy a big issue to state and federal lawmakers. Here's why banks need to be worried.