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Financial Services Law Insights and Observations

Senate Judiciary Tech Subcommittee to Hold Hearing on Data Breach; New Credit Reporting Agency CEO Speaks Out

Privacy/Cyber Risk & Data Security Credit Reporting Agency Data Breach Senate Judiciary Subcommittee Consumer Finance

Privacy, Cyber Risk & Data Security

On September 27, interim CEO, Paulino do Rego Barros Jr., spoke out for the first time since a major credit reporting agency (agency) appointed him to the role the previous day. In addition to issuing an apology, Barros stated that the agency is extending the deadline to sign up for their credit monitoring services and free credit freezes through the end of January 2018. He also made the commitment that by January 31, the agency will offer a new service for consumers to control access to their personal credit data. As previously reported in InfoBytes, the agency is still in the process of responding to the data breach that impacted approximately 143 million U.S. consumers.

On October 4, the Senate Judiciary Subcommittee on Privacy, Technology and the Law will hold a hearing on the agency’s data breach to continue to monitor data-broker cybersecurity. The hearing is scheduled for 2:30 pm in the Dirksen Senate Office Building 226.

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