Credit

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.

Equifax Inc. has seen no evidence that the cyberattackers who got access to sensitive information on 145 million U.S. consumers worked for the company, former Chief Executive Officer Richard Smith said.

Congress may soon try to limit the personal identifiable information that companies and the government can collect on consumers based on their reaction to the massive data breach at Equifax.

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.

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.

The recent Equifax breach wasn't just a failing of one company's digital defenses — it exposed a fundamental weakness of how the entire financial services industry handles consumer identity. What's surprising is how deep the problem goes.

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.

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.

Equifax Inc.’s board of directors has formed a special committee to review the sales of stock that executives made days after the company found out it was hacked.

Not only will banks be on the hook for counterfeit loans to identity thieves, but they will likely lose loan volume, and ultimately revenue, from changes in consumer behavior.