Equifax expecting punishment from CFPB and FTC over massive data breach

By Ben Lane

Equifax is expecting various forms of punishment from the Consumer Financial Protection Bureau and the Federal Trade Commission over the credit reporting agency’s massive data breach that exposed the personal information of 148 million U.S. consumers to hackers.

The company did not provide an expected timeline for when the potential punishment will be announced, but the fact that the CFPB is seeking to find the company for the breach represents a shift from the bureau’s recent actions in the case.

The FTC launched its own investigation into Equifax after the breach was first exposed, and that action seems to be nearing its end as well, but those are hardly the only agencies and parties that are pursuing Equifax over the breach.

Read the full article here.

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