Political Quotes

“Today, I am introducing the Control Your Personal Credit Information Act, which seeks to give consumers greater control over when and how their consumer reports are shared by consumer reporting agencies. Under existing law, the current consumer reporting system is backwards. Consumer reporting agencies collect vast amounts of personal information on consumers, often without our knowledge, in order to compile consumer reports. These reports are then shared with financial institutions and others without our consent in all cases. In the wake of Equifax's failure to secure troves of valuable personally identifiable information it collected on over 145 million Americans, it is clear that this system must change. Indeed, the National Consumer Law Center's Chi Chi Wu stated in her October 2017 testimony before the House Financial Services Committee that the Equifax breach ``means half of the US population and nearly three-quarters of the consumers with active credit reports are now at risk of identity theft due to one of the worst--if not the worst--breaches of consumer data in American history. These Americans are at risk of having false new credit accounts, phony tax returns, and even spurious medical bills incurred in their good names.'' To make matters worse, the risks of identity fraud may not dissipate over time because as Ed Mierzwinski, U.S.…”