Elizabeth Warren is putting together a Credit Bureau Reform Bill that in our opinion, looks like a good thing.
Here is the link for the HUD memo: CLICK HERE
Comments
Don’t have to dig too deep to see that Equifax execs dumped stock in early August.
If Elizabeth Warren is envolved, watch out, something is going to bite us!
I haven’t read the bill, but from those comments I would expect that we would see a major increase in the cost of a credit reports if the companies cant charge for other services. I am sure they will find a way to make up the lost profit at the consumer expense vs their company’s bottom line.
Social Security numbers, Drivers License numbers, Mothers Maiden name and place of birth never change for most people which means that consumers may be impacted from this breach for years. The Execs and IT Security principles need to spend some time in prison. Grossly negligent they were and less than forthcoming with details they are.