Financial and trade organizations, along with members of Congress, have advocated for federal regulators to hold credit reporting bureaus accountable for the security of vast amounts of personal information in their possession, according to recent reports.

Two officials, Peggy Twohig of the Consumer Financial Protection Bureau and Maneesha Mithal of the Federal Trade Commission (FTC), recently testified before the Senate Banking Committee that  their agencies want to focus more attention on security issues, but that they enjoyed limited powers to address and sanction data breaches.

Comments are closed.