Senators Warren and Warner Introduce Bill To Hold Credit Reporting Agencies Accountable

Senators Elizabeth Warren (D-MA) and Mark Warner (D-VA) have introduced legislation to hold credit reporting agencies accountable for data breaches. The Data Breach Prevention and Compensation Act establishes an office of cybersecurity within the FTC to give it direct supervisory authority over the credit reporting industry and imposes mandatory penalties for breaches involving consumer data at credit reporting agencies. The bill is a direct response to the Equifax data breach last year that exposed the sensitive personal information of over 145 million Americans. "Senator Warner and Senator Warren have proposed a concrete response to a serious problem facing American consumers," said EPIC President, Marc Rotenberg. EPIC testified before Congress last year following the Equifax breach, urging legislation to give consumers more control over their credit reports. Senators Warren and Brian Schatz (D-HI) also introduced a bill last year that would allow consumers to freeze and unfreeze their credit reports for free.

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