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The Week Ahead: Holding Credit Bureaus Accountable

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Brandon Farber

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The House Financial Services Committee will hold a hearing entitled, “Who’s Keeping Score? Holding Credit Bureaus Accountable and Repairing a Broken System” on Tuesday, February 26, 2019, at 10:00 a.m. EST in Room 2128 Rayburn House Office Building. This will be a two-panel hearing with Mark Begor, CEO, Equifax; James M. Peck, President and CEO, TransUnion; and Craig Boundy, CEO, Experian North America in the first panel.

The second panel will consist of testimony from Lisa Rice, President and CEO, National Fair Housing Alliance; Chi Chi Wu, Staff Attorney, National Consumer Law Center; Jennifer Brown, Associate Director, Economic Policy, UnidosUS; and Edmund Mierzwinski, Consumer Program Director, U.S. Public Interest Research Group.

 

According to the House Committee memorandum,  in 2017, Equifax experienced a cybersecurity breach that affected approximately 148 million consumers, which, in addition to releasing the personally identifiable information of these consumers, also highlighted deficiencies in the credit reporting. The hearing will also discuss two legislative proposals towards consumer credit reform aimed at making numerous changes to the existing credit reporting system, including increasing consumer rights to report and appeal credit report disputes.

Author: Radhika Ojha

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Radhika Ojha, Online Editor at the Five Star Institute

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