Survey: After Equifax Hack, Does the Government Need to Protect Consumer Data?

What's the story?

A hack at the credit reporting agency Equifax exposed the personal and financial data of an estimated 143 million U.S. consumers, leaving half the nation vulnerable to fraud, theft, and various other crimes.

Why does it matter?

Last year, Equifax spent $1.1 million lobbying against regulatory laws, including data security and breach notification. The company also waited six weeks to announce the hack—which was completely legal, as Equifax is based out of Georgia, and the state has no timeline for when companies have to notify customers about a data breach. (There’s currently a bill in Congress on whether companies should face federal penalties if they don't tell customers about a data breach—tell your reps how to vote here.)

On Friday, Sen. Elizabeth Warren (D-MA.) called for a thorough government investigation into the data breach. She also introduced a bill that would prevent credit reporting agencies, like Equifax, from profiting off consumers’ info during a reporting freeze. Warren concurrently sent a letter to the Government Accountability Office, requesting an investigation into consumer data security. The Federal Trade Commission (FTC) and Consumer Financial Protection Bureau (CFPB) announced their own investigations into the Equifax hack this week.

Equifax joins a number of other high-profile companies involved in data breaches, including Yahoo! (1 billion affected), Target (110 million), Ashley Madison (32 million), and eBay (145 million).

Presently, there’s little government oversight into how companies handle data privacy. But with data breaches seemingly occurring on the regular, is it time for the government to get more involved with consumer data protection? If so, what would you most like to see?

Take the survey below, choosing up to three responses.

Anything we didn’t include that you’d like to see? Share any additional ideas in the comments section. And make sure to hit Take Action and tell your reps your thoughts.

—Josh Herman

(Photo Credit: welcomia / iStockphoto)