News Topic: Equifax

Bullish update by the accomplished Citi CFO boosts shares; credit bureau may have been distracted by prior incident. ... Read full article

Sen. Elizabeth Warren and Rep. Elijah Cummings have called for an update on probes into the credit reporting giant a year after its massive data breach came to the light. ... Read full article

Following news of the breach, congressional hearings for the company’s ex-CEO and other blowback were accompanied by legislative calls to action. But a year later, did policymakers do anything? ... Read full article

Allowing alternative data such as rent and utility payments has bipartisan support, but some say it could create more problems than it solves. ... Read full article

Senators at a hearing Thursday discussed a bill establishing an online portal for consumers to monitor their credit reports free of cost. ... Read full article

Under a consent order with Texas and seven other states, the Atlanta-based credit reporting firm agreed to shore up its information security efforts, but it will not have to pay any financial penalties. ... Read full article

Largest banks would be limited on how much risk they could have with each other; the credit bureau has hired the former head of the computer giant's Watson unit. ... Read full article

Institutions that have been opening consumer accounts without consent need to prepare for the fallout, even if the OCC has said it won't name names. ... Read full article

It’s not just weaker underwriting and higher household debt levels that are driving past-due rates to their highest levels in seven years. ... Read full article

The Senate bill is a huge win for the banking industry, but there are still plenty of unresolved legislative issues of interest to financial institutions. ... Read full article

Mark Begor said Wednesday that banks and other customers will receive regular updates on the credit reporting agency’s efforts to improve its cybersecurity in the wake of last year’s massive data breach. ... Read full article

Ryan, McConnell say they have a deal on a bipartisan Dodd-Frank rollback; New York won more than $5 billion in settlements from big banks under the former AG. ... Read full article

Readers applaud acting Consumer Financial Protection Bureau Director Mick Mulvaney’s cost-cutting ideas, slam recent calls for postal banking, opine on banks limiting their business with firearms dealers and more. ... Read full article

Acting CFPB Director Mick Mulvaney told a group of bankers last week that he intends to end public access to complaints, but Sen. Elizabeth Warren and two other Democrats argue that would be a mistake. ... Read full article

Online account opening and facial recognition features on mobile apps are among the technologies the bank intends to introduce or improve upon this year, CEO Jamie Dimon wrote in his yearly shareholder letter. ... Read full article

Some speculate that the banks who do business with credit reporting agencies may be looking for alternatives after mounting concerns about their ability to keep information private. But breaking up is hard to do. ... Read full article

Some fear that the removal of such data from individual credit reports could lead lenders to believe a consumer is a better bet than they really are. ... Read full article

Mark Begor, a former long-time GE Capital executive, faces lots of challenges as the credit bureau recovers; CEO dismisses “widespread rumors” that the bank wants to replace him. ... Read full article