Mick Mulvaney putting Equifax probe on ice

[Tanuki]

https://mobile.reuters.com/article/amp/idUSKBN1FP0IZ?__twitter_impression=true

" Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Equifax Inc failed to protect the personal data of millions of consumers, according to people familiar with the matter.

Equifax (EFX.N) said in September that hackers stole personal data it had collected on some 143 million Americans. Richard Cordray, then the CFPB director, authorized an investigation that month, said former officials familiar with the probe.

But Cordray resigned in November and was replaced by Mulvaney, President Donald Trump's budget chief. The CFPB effort against Equifax has sputtered since then, said several government and industry sources, raising questions about how Mulvaney will police a data-warehousing industry that has enormous sway over how much consumers pay to borrow money.

......

Three sources say, though, Mulvaney, the new CFPB chief, has not ordered subpoenas against Equifax or sought sworn testimony from executives, routine steps when launching a full-scale probe. Meanwhile the CFPB has shelved plans for on-the-ground tests of how Equifax protects data, an idea backed by Cordray.

The CFPB also recently rebuffed bank regulators at the Federal Reserve, Federal Deposit Insurance Corp and Office of the Comptroller of the Currency when they offered to help with on-site exams of credit bureaus, said two sources familiar with the matter."...(more)

[htuttle]

1. "millions of consumers"

Based on the numbers I saw, it was pretty much ALL US-based consumers.

Enough data to hijack most people's tax returns was stolen from Equifax. That's why you should probably file as early as possible from now on, especially if you expect a refund. it's only a matter of time before they get to your name on the list.

[spanone]

2. I wonder what the administrations Fee is for thwarting an investigation?