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Democrats leverage Equifax breach to defend CFPB's arbitration rule

Joe Mont | September 13, 2017

The recent data breach that struck the credit rating service Equifax has, once again, resurrected a popular political adage: never let a crisis go to waste.

On Sept. 7, Equifax announced a cyber-security incident potentially impacting approximately 143 million U.S. consumers. Criminals exploited a U.S. website application vulnerability to gain access to certain files, the firm said in a statement. Based on the company's investigation, the unauthorized access occurred from mid-May through July 2017.  The company has found no evidence of unauthorized activity on Equifax's core consumer or commercial credit reporting databases.

The information accessed primarily includes names, Social Security numbers, birth dates, addresses and, in some instances, driver's license numbers. Also, credit card numbers for approximately 209,000 U.S. consumers, and...

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