Data security

Readers react to Equifax's massive data breach, weigh in on the departure of SoFi's CEO, endorse a new digital identity system, and more.

The bill would create a federal obligation for credit reporting agencies to offer free credit freezes and prevent them from selling consumer information while a freeze is in place.

Agency confirms it’s investigating the credit bureau; regulator gives green light to Upstart Network to use cellphone payments, etc., to underwrite loans.

More than 100 suits have been filed since the company revealed the massive data breach last week; price of digital currency is down 25% since hitting a record high a week ago.

Security professionals have long argued against the use of static identifiers like passwords and Social Security numbers, while consumers have long questioned why a handful of bureaus can claim to be the ultimate judges of their identities.

The breach may result in a huge new dump of names, addresses, Social Security numbers and other personal information that fraudsters can leverage to gain access to a legitimate user’s account, writes Jason Tan, CEO of Sift Science.

Rep. Carolyn Maloney, D-N.Y., sent a letter to the top executives at TransUnion and Experian on Wednesday asking them what steps they are taking to safeguard consumer data in light of the Equifax breach.

The best solution to the current broken identity system is to flip the authentication process from third parties to the users themselves.

Lenders aren’t happy with the way the credit bureau has responded to the data breach; JPM chief calls digital currency “a fraud.”

It's only the early days after the Equifax breach, but breadth of the data has the potential to reverberate for some time, requiring a mix of detection, prevention and response, according to John Gunn, chief marketing officer at VASCO Data Security; Atiq Raza, CEO of Versec; and Tim Erlin, vice president of product management and strategy at Tripwire.