Senate bill calls for free credit freezes after Equifax breach

From Engadget - September 15, 2017

Above all, the FREE Act would allow consumers to freeze their credit at any time for free. This would prevent companies like Equifax from selling that information to other entities. The bill also expands fraud alert protections and would force Equifax to refund any fees it charged for credit freezes in the wake of the breach.

On top of the bill, Warren is spearheading an investigation into the Equifax hack and the wider credit-reporting industry. This is her wheelhouse -- Warren helped establish the Consumer Financial Protection Bureau in 2011, following the 2007 financial crisis. In a letter to the CFPB and Federal Trade Commission today, Warren asked whether the bureau would benefit from additional authorities to properly oversee credit-reporting agencies.

The FTC is also investigating the incident itself.


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