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In Senate Testimony, EPIC Calls for Reform of Credit Reporting Industry

EPIC's President Marc Rotenberg will testify this week before the Senate Banking Committee on reform of the credit reporting industry following the Equifax breach. The hearing, "Consumer Data Security and the Credit Bureaus," follows several Congressional hearings with Equifax CEO Richard Smith. Rotenberg will emphasize the need to limit the use of the Social Security number in the private sector and to give consumers control over their personal data. EPIC will recommend a national credit "freeze" and free life-term credit monitoring services for all U.S. consumers. Rotenberg detailed how the credit reporting industry is broken in a recent article in the Harvard Business Review. He also warned that the failure to update U.S. privacy law has placed the digital economy at risk and may lead to the suspension of trans-border data flows. EPIC has previously testified before the House and Senate on the need for Congress to address data breach and identity theft.

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