Data and information management

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.

Thirty-six lawmakers signed a bipartisan letter Tuesday calling for an investigation into the sale of stock by Equifax executives between a data breach at the firm and when it was disclosed.

A mishmash of lawmakers from different parties and committees are wading into the aftermath of Equifax’s megabreach, with some using it to advance their policy agendas while others are calling for possible criminal prosecution.

The reaction to major data breaches has always been to protect card data. But the non-card data that Equifax handled deserved just as much attention, if not more.

TransUnion Chief Financial Officer Todd Cello said Tuesday the firm kept call centers open through the weekend to deal with the flood of calls from anxious consumers.

Banks should not point blame at the credit bureau but rather should step up and demonstrate their commitment to their customers. If you punt the problem to Equifax, it suggests you don’t really care.

Online lender’s co-founder says “negative press” from lawsuits has become a “distraction”; company sought lighter regulation and limited legal liability for credit bureaus.

Senate Finance Committee leaders sent a letter to Equifax CEO Richard Smith scrutinizing the scope of the company's data breach and its response.

By design, any practice that requires a customer to simply hand over online bank credentials to a third party is a terrible idea.

The loss of 143 million consumers' personal data may prompt a regulatory backlash.

The FBI and at least two states are looking into the data breach; Harvey shut lots of banks, but mobile banking apps keep customers operating.

Everybody say it with me, “Customer data is a liability.” And the Equifax breach shows why.

Leaders of the national credit union trade associations are once again calling for a congressional solution to a problem that has plagued consumers for years

In order to compensate victims of the breach, Equifax is offering free credit monitoring services that include a mandatory arbitration clause, a measure Democrats were highlighting to lobby support for the CFPB's rule banning such clauses.

One lawsuit has already been filed against Equifax in the wake of its massive security failure. But that’s the just beginning of the consequences for the credit bureau and the Fis that use it.