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Democrats Privacy Security Politics

32 Senators Want To Know If US Regulators Halted Equifax Probe (engadget.com) 93

An anonymous reader quotes a report from Engadget: Earlier this week, a Reuters report suggested that the Consumer Financial Protection Bureau (CFPB) had halted its investigation into last year's massive Equifax data breach. Reuters sources said that even basic steps expected in such a probe hadn't been taken and efforts had stalled since Mick Mulvaney took over as head of the CFPB late last year. Now, 31 Democratic senators and one Independent have written a letter to Mulvaney asking if that is indeed the case and if so, why.

In their letter, the senators expressed their concern over these reports and reiterated the duty the CFPB has to not only investigate the breach but to bring action against Equifax if deemed necessary. "Consumer reporting agencies and the data they collect play a central role in consumers' access to credit and the fair and competitive pricing of that credit," they wrote. "Therefore, the CFPB has a duty to supervise consumer reporting agencies, investigate how this breach has or will harm consumers and bring enforcement actions as necessary."

32 Senators Want To Know If US Regulators Halted Equifax Probe

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  • by Anonymous Coward on Thursday February 08, 2018 @06:42PM (#56092365)

    Trump blocked the inquiry into the worst data breach ever, and he committed treason with the Russians. Basically he is a bad guy and his supporters are retards.

    Well quitting time. Anyone wanna hit the strip club?

  • Why write letters? (Score:5, Insightful)

    by xevioso ( 598654 ) on Thursday February 08, 2018 @06:46PM (#56092383)

    Seriously. Why are these Senators bothering? It's not like he will give them a clear response. Any response, if he even provides one, will only serve to make up some bullshit reason why it was "unnecessary" rather than the real reason, which is that these guys believe fundamentally there's nothing wrong with cheating people and fucking people over.

    So why waste time and write the letters? To just look like they are doing something useful?

    • by fafalone ( 633739 ) on Thursday February 08, 2018 @09:14PM (#56092991)
      To look like they're doing something; what else? Of course nothing is being done. The director of the agency is fundamentally opposed to his own agency existing, requested a budget of $0, and won't even go after abusive payday lenders. That's par for the course with Trump; appointing someone who hates the agency they're now leading.
      • Trump may have somewhat murky politics, but the people he has appointed or who are advising him have very clear political goals. They are divided into two camps. The faction that wants to tear down and destroy the government so that it can be rebuilt in a way that they like; and the faction that just wants to tear down and destroy the government.

    • Seriously. Why are these Senators bothering? It's not like he will give them a clear response. Any response, if he even provides one, will only serve to make up some bullshit reason why it was "unnecessary" rather than the real reason, which is that these guys believe fundamentally there's nothing wrong with cheating people and fucking people over.

      So why waste time and write the letters? To just look like they are doing something useful?

      You write a letter in order to get a clear and acceptable response. If you fail to get one, then you fucking fire his ass.

      In this case, there is no other acceptable action.

      • by nasch ( 598556 )

        Congress cannot just fire him, as his position is one appointed by the President. They could either impeach him, or legislate his position out of existence, but I'm sure we can all imagine how likely those are.

        • Congress cannot just fire him, as his position is one appointed by the President. They could either impeach him, or legislate his position out of existence, but I'm sure we can all imagine how likely those are.

          The court martial. The death penalty. The power of impeachment. These are tools that exist for a reason. If someone appointed to a position is failing to do their damn job, or do it in a blatantly biased and corrupt manner, than you use the tools at your disposal to remove them.

          And if you're not going to do that, then fucking get rid of the power to impeach. It's become rather obvious no one has the balls to ever actually use it, no matter how justified.

          • by nasch ( 598556 )

            The court martial. The death penalty. The power of impeachment.

            Courts martial are for members of the military, so that isn't applicable. I have no idea how you think Congress is supposed to use "the death penalty" against an official in the executive branch. And as I said, impeachment or deleting the position entirely are the only tools available to Congress.

            And if you're not going to do that, then... get rid of the power to impeach.

            I don't see how that would improve the situation.

            • The court martial. The death penalty. The power of impeachment.

              Courts martial are for members of the military, so that isn't applicable. I have no idea how you think Congress is supposed to use "the death penalty" against an official in the executive branch. And as I said, impeachment or deleting the position entirely are the only tools available to Congress.

              And if you're not going to do that, then... get rid of the power to impeach.

              I don't see how that would improve the situation.

              It won't improve the situation. But at least it'll get rid of a tool that's proven itself to be fucking useless in recent times. That was my point before, at least other tools like the court martial and the death penalty are actually used when justified. Either that, or perhaps we should start replacing members of Congress in order to elect people who have the balls to actually use the tools at their disposal to keep people in check.

              • by nasch ( 598556 )

                Either that, or perhaps we should start replacing members of Congress in order to elect people who have the balls to actually use the tools at their disposal to keep people in check.

                That would be awesome. It's so frustrating to see Congress abdicate their responsibility to oversee the executive branch.

    • by Anonymous Coward

      So why waste time and write the letters? To just look like they are doing something useful?

      I know, what they should do is to open 9 different House and Senate committees to investigate the incident, you know, like Benghazi.

    • Why? To get it on the record to give voters something to think about (those who actually think before voting, at least).
  • by Voyager529 ( 1363959 ) <voyager529NO@SPAMyahoo.com> on Thursday February 08, 2018 @06:46PM (#56092385)

    I've seen more commercials for Equifax consumer products in the last six months than I have in the last six years. Enron wasn't pitching their retirement accounts while they were under investigation and Martha Stewart wasn't taking out Super Bowl ads to pitch her new holiday pots-and-pans collection while she was under investigation.

    A real investigation of Equifax would keep Equifax's name in the news in a bad way, and Equifax wouldn't be pitching their credit monitoring apps on primetime TV if their name was associated with being under investigation.

    So yes, it's abundantly clear that Equifax isn't getting the probing they deserve.

    • They don't deal on the retail level. The "news" means nothing to them. The opinions of the banks are all that matters. There is only one way to get even. Pay off your debts and/or don't take out new credit.

      • by Holi ( 250190 )
        In what way does that make things even? Either I damage my financial future or they do. Either way I get the sort end of the stick.
  • "Make me. Pbbbbbbbtttt!!!" [Sticks thumbs in ears and wiggles fingers]
  • CSBF's been busy protecting loan sharks, er payday lenders. http://www.latimes.com/busines... [latimes.com] And now you want them to also find time to probe criminals at Equifax? Silly Rabbit! Just who do you think they really work for now?
  • by RogueWarrior65 ( 678876 ) on Thursday February 08, 2018 @10:10PM (#56093155)

    So what if the company gets a huge fine? It doesn't solve a damn thing. The people whose data was stolen don't get their security back nor do they get compensated in any way. IMHO, this is little more than an extortion racket being run by the government who inhales every dollar it can.

  • It makes sense.... since the Wolves are guarding the henhouse, they've adopted a pro-Wolf policy to the point of not even investigating the reported theft of 10 million chickens.

  • Good luck with that (Score:4, Interesting)

    by magzteel ( 5013587 ) on Thursday February 08, 2018 @11:49PM (#56093491)

    The CFPB is not subject to congressional oversight
    https://en.wikipedia.org/wiki/... [wikipedia.org]

    "A 2013 press release from the United States House Financial Services Committee criticized the CFPB for what was described as a "radical structure" that "is controlled by a single individual who cannot be fired for poor performance and who exercises sole control over the agency, its hiring and its budget." Moreover, the committee alleged a lack of financial transparency and a lack of accountability to Congress or the President. Committee Vice Chairman Patrick McHenry, expressed particular concern about travel costs and a $55 million renovation of CFPB headquarters, stating "$55 million is more than the entire annual construction and acquisition budget for GSA for the totality of federal buildings."[71] In 2012, the majority of GSA's Federal Buildings Fund went to rental costs, totaling $5.2 billion. $50 million was budgeted for construction and acquisition of facilities.[72]"

  • Lol I wonder who it could be?

  • keeps cropping up as a tired old, completely incorrect meme.

  • by Anonymous Coward

    Seriously, Americans deserve this shit. People on this site in particular, considering the types of comments which are regulatory posted here over the last year. Casual racism, sexism, pro-oligarchy, anti "anything" involving social welfare and all the rest of it which comes from being a Trump supported.

    Placing an openly anti-science jackass as head of the EPA, a HUGE asshat of a carrier puppet as head of the FCC, an anti-consumer head of the CFPB, an anti-education as secretary of education. The list goes

  • by DavidHumus ( 725117 ) on Friday February 09, 2018 @12:18PM (#56095765)
    ...not doing a good job? I'm shocked! Absolutely shocked!

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