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Read. Follow. Verify.Senate Hearing on the 2017 Equifax Data Breach
Record date · January 1, 2018
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What This Bill Does
This document is a transcript from a 2017 U.S. Senate Banking Committee hearing investigating a massive cybersecurity breach at Equifax. The hearing features testimony from former Equifax CEO Richard F. Smith regarding the exposure of sensitive personal data for over 145 million Americans.
The hearing examines the security failures that led to the exposure of Social Security numbers, birth dates, and financial information for nearly half of the U.S. population, prompting congressional review of oversight.
Who It Affects
Groups the bill's text affects, as described in the record. Being affected is not a position for or against it.
U.S. Consumers
Individuals whose personal financial and identity data was accessed during the breach.
Equifax, Inc.
The company is subject to congressional oversight and investigation regarding its security practices.
Key Facts
- The breach potentially impacted more than 145 million U.S. consumers.
- Stolen data included names, Social Security numbers, birth dates, and addresses.
- Driver's license numbers were accessed for some consumers.
- Credit card numbers for approximately 209,000 consumers were accessed.
Show all 8 facts
- Dispute documents containing personally identifiable information for approximately 182,000 consumers were accessed.
- Unauthorized access occurred between mid-May 2017 and July 2017.
- Equifax discovered the breach on July 29, 2017.
- Credit bureaus are classified as financial institutions under the Gramm-Leach-Bliley Act.
Frequently Asked Questions
What information was stolen during the Equifax breach?
When did the unauthorized access occur?
What else do you want to know?
News Coverage
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Discoveries
Patterns POLISCOPE noticed across the record. These are observations to investigate, not conclusions.
Increased Oversight of Credit Bureaus
The hearing highlights the transition of credit bureaus from private entities to entities under strict congressional scrutiny due to their role as financial institutions.
Connected Entities
Sources
www.govinfo.gov
Analysis Score
0–100- Significance95How much this matters to a regular citizen
- Controversy80Intensity of disagreement among stakeholders
- Entertainment60Compellingness for a non-policy-wonk reader
- Buzz40Current news / social attention level
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