The committee will come to order. The chair is authorized to declare a risk a recess at any time. Entitledng is examining the Equifax Breach. September 7, equifax announced what it called a Cyber Security incident. 145 million u. S. Consumers, nearly half of all americans. If you are hearing my voice your either the victim of the breach or know someone who is. Thats how massive this was. Criminals got everything they need to steal your identity, open credit card accounts in thise and cause you may be the most harmful the world has ever seen. The companys response has left much to be desired. Equifax failed to disclose the breach to shareholders for weeks. Senior executives sold their equifax shares after the company knew of the breach but before they disclosed the breach. The federal trade commission will get to the the Justice Department will get to the bottom of this. By the federal trade commission is required. Congress must insure federal regulators do their jobs so justice can be
Hold a minority hearing on the equifax data breach. Commanding properly supported by the majority of minority members. The gentlemane from california, chairman of our Foreign Affairs committee. Mr. Chairman, thank you. I thank mr. Smith for being here today. Ande september 7, my office all these offices have received a lot of angry and anxious socalled and emailed by our constituents and i think one of the things that really stands out is how can a company that deals in data not protect that data. Es in whate answer li your company did not do. You did not protect their personal information. You did not encrypt that data. You did not catch a vulnerability patch a vulnerability you were alerted 8. On march he did not disclose the breach to the public until 120 days after it occurred and the insidertrading allegations only add fuel to the fire. Before september 7, who else outside the company, your heart Legal Counsel and the fbi hired Legal Counsel and the fbi, who was made notified of t
The searing will come to order. Before we begin let us remember that were still mourning those lives who are lost in our thoughts go to the courageous First Responders who put their lives on the line to save others. Both centers of nevada arse absent today because theyre in nevada. I know that senator heller and cortez are doing all they can there we will be reunited in prayer and support with them during this difficult time. Today will hear testimony from wells fargo chief executive officer. Over a year ago john testified in front of this committee on the bank bank account scandal and his handling of the fallout. Of the many issues emphasized during the Committee Members one was the need to hold executives accountable and to ensure customers impacted will be made whole. He committed the bank would take necessary actions to make it right and restore the public and Investors Trust in the company. Incidents like these remind us how important it is to Institute Policies and procedures tha
Organization as it functions on a day to day basis. Tonight, at 8 p. M. Eastern, on cspans q a. On thursday, richard smith, the former ceo and chairman equifax, testified on the data breach at his company that compromise the records of an 100 40 Million Consumers. This testimony to the House Financial Services committee was his fourth appearance before a Congressional Committee in a week. Its three hours and 15 minutes. The committee will come to order. The chair is authorized to declare a risk a t any time. Entitledng is examining the Equifax Breach. September 7, equifax announced what it called a Cyber Security incident. 145 million u. S. Consumers, nearly half of all americans. If you are hearing my voice your either the victim of the breach or know someone who is. Thats how massive this was. Criminals got everything they need to steal your identity, open credit card accounts in thise and cause you may be the most harmful the world has ever seen. The companys response has left much
Public Service Americas cabletelevision companies and is brought to you today by her cable or satellite provider. The ceo of wells Fargo Timothy sloan testified before the Senate Banking Committee Last week about changes at the bank since it was revealed that wells fargo had opened an authorized account for some customers. Idaho center mike crapo chaired this twohour hearing. This hearing will come to order. Before begin today let me acknowledge that our nation is to morning and remember the lives lost in las vegas. Our condolences go out to the families affected by this in this crime, at our thanks go to the courageous First Responders and police and citizens who put their lives on the line to save others. Two members of this committee bothon of the senators of nevada are absent today because theyre in nevada. And i know senator heller and center court as master are currently doing all they can. We will remain united in prayer and support with them during this difficult time. Today we