Sen. Warren proposes Equifax bill to end consumer exploitation

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Equifax offered free identity theft protection and credit file monitoring to all U.S. consumers.

Sen. Warren launches probe into Equifax data breach

In a press statement on Friday, Sen. Warren said she opened an investigation because of Equifax “delayed and lackluster response” on the matter.

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In her letter to Equifax, Sen. Warren emphasized its failure  to provide the necessary information describing exactly how the data breached happened and how its security systems failed.

“Equifax’s initial efforts to provide customers information did nothing to clarify the situation and actually appeared to be efforts to hoodwink them into waiving important legal rights,” according to the senator.

Sen. Warren also sent letters of inquiry to Experian and TransUnion as part of the investigation. She urged the firms to answer questions, explain the danger of identity theft to consumers and inform them about the risk of further data breach.

There is a possibility that hackers will try to open fraudulent lines of credit using consumers’ information stolen from Equifax.

Sen. Warren urges regulator to review consumers’ data security

The Democratic senator also discussed her concerns regarding the Equifax data breach in her letters to the heads of agencies responsible for regulating credit reporting agencies.