Equifax

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.

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.

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.

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.

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.

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.

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.

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.

The hiring of Mark Begor comes as the credit bureau has been shuffling its top managers since disclosing last year that hackers were able to access the personal data of 145.5 million U.S. consumers.

Robert Selander was named an independent director of the embattled credit bureau, which is still trying to regain public confidence after a huge data breach last year.

Use of alternative data in traditional credit scoring would help consumers access the banking system and lower their cost of credit.

Banks and retailers are sparring over whether financial firms should follow a new national standard to quickly notify consumers when they've experienced a data breach.

Breach investigations can be very lengthy and it is not uncommon to disclose additional findings over time, writes Mounir Hahad, head of threat research at Juniper Networks.

The Consumer Financial Protection Bureau is among several agencies that "continue to investigate events related to" last year's Equifax brief, the credit reporting firm said in a securities filing.

The bank overcharged some customers and some received inappropriate investment advice; 2.4 million more people were affected by the breach.

Equifax, the credit bureau breached by hackers last year, said the card-payments industry may cut off its access to certain data or impose fines if the company can't prove it's addressed weaknesses.

Equifax, the credit-reporting firm that suffered a massive data breach last year, said it will notify an additional 2.4 million U.S. consumers that they were affected by the hack.

A bipartisan bill to establish a federal security framework follows a string of efforts beset by congressional turf battles.

Bank makes errors in refund program; credit bureau now says tax IDs, email addresses and driver’s license were compromised in last year’s hack.

Fallout from the Fed's blow to Wells Fargo; a call for calm in the rush to regulate cryptocurrencies; point-of-sale lending has its day; and more.