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Oct. 17 Senate Banking Hearing to Focus on Credit Bureau Data Security
Friday, October 13, 2017 6:40 AM

The Senate Banking Committee's focus for next Tuesday's hearing is on consumer data security at credit bureaus. This is in follow-up to the Equifax data breach, which affected more than 145 million Americans. Not only was personal information breached, including Social Security numbers, but driver license information as well. Driver license information is often used to verify a person's identity when disputing credit report information.

The Oct. 17 Senate Banking hearing is set to begin at 9 a.m. CT.

During the hearing, Andrew Smith, a partner at Covington & Burling LLP, will testify on behalf of the Consumer Data Industry Association, which has the mission of educating the public, legislators and regulators about responsible use of consumer data. Marc Rotenberg, president of the Electronic Privacy Information Center, is also set to testify on the importance of upholding consumers' right to privacy.

Cornerstone actively supports legislation that would enact strict data security standards for entities that handle consumer information, as well as put in place a national data breach notification standard.