Equifax has been in the hot seat for a little over a week, since it was revealed that they were hacked, exposing the private data of approximately 143 million Americans.
Now, the company is not only facing at least 23 class-action lawsuits, but the FTC has made the rare move of publicly confirming that they are investigating the data breach, while Congress has formally requested that Equifax CEO Richard Smith testify before the Commerce Committee in early October.
What should make Equifax really quake in their boots, though, is the fact that Senator Elizabeth Warren is side-eyeing them, according to Bloomberg. The Massachusetts legislator is known for her financial savvy, fearless consumer protection, and sharp, pointed critiques of Wall Street. Warren introduced legislation today to limit Equifax’s power and give consumers more control over the data credit companies collect, she said in a statement. Warren then went on a letter-writing spree demanding answers from the Consumer Financial Protection Bureau and the Federal Trade Commission on what they are doing to investigate the breach, and asking the three main credit reporting companies—Equifax, TransUnion, and Experian—about their response.ML