This committee will come to order. This morning we will hear testimony from Richard Smith, former chairman and chief executive officer of equifax who held those positions until last week. I understand that you are now serving as an unpaid adviser to the company and appreciate your willingness to testify here and appear about the events surrounding the breach and equifaxs response while you were leading the company. Given the severity of the data breach, congress will continue to examine the facts behind it and what can be done to prevent similar situations. Sign r security is one of the most pressing issues facing companies as well as consumers and governments alike. And is one of the biggest threats to our financial system. The amount of data that the private industry and government collect and store is very concerning. Theres intrinsic vulnerability in collecting information and we e need to have a meaningful discussion on how to protect and limit access to it. The Banking Committee
Executive officer of equifax who held those positions until last week. I understand that youre now serving as an unpaid adviser to the company and appreciate your willingness to testify here and appear and testify about the events surrounding the brief and equifaxs response while you were leading the company. Congress will continue to examine the facts. Cybersecurity is one of the most important issues facing companies as well as consumers and government alike and is one of the biggest threats to our Financial System. The amount of data that the private industry and government collect and store is very concerning. There is intrinsic vulnerability in collecting and storing personal Financial Information, and we need to have a meaningful discussion on how to protect and limit access to it. The Banking Committee takes its oversight of Credit Bureaus seriously. As they are Financial Institutions under the grand leach bliley act. Credit bureaus serve a critical function in our Financial Sys
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(Minneapolis, MN) The University of Minnesota is investigating a data breach that may have endangered private information. The university says a person may have gained illegal access to a University database
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