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Senators want ‘massive’ fines for data breaches at Equifax

Source: Jim Puzzanghera, L.A.Times (Paid Registration)

Two senators proposed “massive and mandatory” fines for data breaches at Equifax Inc. and other credit reporting companies, starting at $100 for each consumer whose sensitive information is compromised.  The bill from Sens. Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) would add a $50 fine for each additional piece of compromised personally identifiable information for each consumer.

The bill, called the Data Breach and Compensation Act, would direct the Federal Trade Commission to funnel half of any fine to compensate affected consumers.

Read Full Article: Senators want ‘massive’ fines for data breaches at Equifax

 
 
 

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