AFR Letter: How Much Will Credit Bureaus Make Off Equifax Data Breach?
American consumers deserve to know how much money the big three credit bureaus — Experian, Equifax and TransUnion — will make due to the devastating data breach at Equifax.
News Category: Press Releases & Statements
AFR Statement: On the Resignation of Richard Cordray from the CFPB
“Following a Wall Street-induced financial crisis that cost millions of people their homes and jobs, the CFPB began its work as the first federal body with the mission and capacity to stand up for everyday Americans in their dealings with the financial services companies who have such an impact on our lives each and every day. Obtaining $12 billion in relief for over 29 million Americans is a great accompishment.”
AFR Statement: Senate Dodd-Frank Changes Would Benefit Banks Not Look Out for Consumers
Congress ought to be passing robust new consumer protections, not doing favors for banks. Annual industry earnings by banks set a new record in 2016, and community banks saw even faster growth than big banks. Over 95 percent of community banks turned a profit last year.
AFR Statement: Equifax Earnings Highlight Broken Model of Credit Reporting
The hack may even have been a boon to the bottom line of credit reporting companies, which charge consumers to freeze their credit report or monitor their credit, even though consumers are seeking these protections due to this massive breach.
AFR Statement: Monopoly Man Highlights Need for Congress to Act on Consumer Rights
But the question is, what will Congress do after a hearing on data breaches? Will they act to restore our right to control information about our own lives, and protect our privacy, or will they let Equifax and other data brokers turn the problems they caused into an excuse for undermining existing state laws with a sham weaker federal standard that replaces them? Will they restrict access to the courts?