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We will receive testimony on the protection of consumer data at Credit Bureaus. At the equifax hearing members expressed interest in better understanding how Credit Bureaus are regulated, how they protect consumer data, and whether there are gaps that Congress Needs to fill. Ive long been concerned about the ever increasing amounts of big Data Collected by companies and by the government. It is critical that Personnel Data is protected. Consumer impact in thee vented of a breach is minuimized and consumers ability to access credit is not harmed. Credit bureaus play a valuable role in our Financial Institution by assessing a persons ability to meet financial obligations an also facilitating access to beneficial Financial Products and services. The inherent nature of the Credit Bureaus business, as with most businesses in this digital age, requires utmost Data Security to ensure that sensitive Consumer Information is safeguarded. Two weeks ago equifax testified about the methods it uses

Czech republicUnited statesRichard smithAndrew smithCredit bureausCongress needsBig dataData collectedPersonnel dataFinancial institutionFinancial productsNature creditData securityConsumer informationSecurity industryFinancial insurance