Hey Equifax And You Other Data Miners:
Sen. Mark Warner and Sen. Elizabeth Warren have such a deal for you
January 10, 2018
CLICK TO ENLARGE. Sen. Elizabeth Warren seen here, and Sen. Mark Warren want the big data miners held accountable to you the people. What a concept.
(NATIONAL) -- Listen. If you are not still outraged and mad as hell about that Equifax data breach - the one that exposed the private data of millions of Americans to hackers - then you've got rocks in your head.
Equifax, as you'll recall, sustained a huge breach last year; one that compromised the names, Social Security numbers and other very personal information of more than 145 million Americans.
But for those of you who have no heads full of rocks, you'll be pleased to know this: in an age where most Republican lawmakers are looking out only for the interests of the rich and huge corporations (gotta love that "donor class"), Democratic Senators Elizabeth Warren and Mark Warner are actually working for YOU, the great unwashed. The common working class man and woman.
They want the pound of flesh that is due you and they want to send these huge data miners like Equifax and the rest a strong message that they cannot get away with this crap any longer. That there will be a big penalty for them for any more similar big screw-ups that could cost you money and headaches for years down the road.
Both Senators are sponsoring new, and long overdue legislation called the 'Data Breach Prevention and Compensation Act.'
They're going to introduce it today in Washington. This bill would give the government new authority to whack Equifax and the other huge data miners - who by the way NEVER got your permission to use your stuff to make money off you in the first place - with massive fines if they have any more big cyber attacks and to boot, that fine money would then be returned to the millions of Americans affected by such a breach.
Now how cool is that? Praise the Lord. Talk about some long overdue common sense on the issue.
Both Senators are of the mind that our lazy and not very bright federal government has for too long been far too lax about letting these data outfits do whatever they want and having no consequences.
The reason data miners don't have to worry about screw-ups that can cost you big time is that the government (you'll love this) doesn't even have the power of law to penalize the schmucks that fail to protect their massive treasure troves of consumer data.
This bill would grant the Federal Trade Commission clear authority to fine the credit-reporting agencies -- outfits like Equifax, TransUnion and Experian - and would also empower the FTC to regulate and investigate the data security practices of credit-reporting agencies.
In a statement issued about the bill Warren said, “Our bill imposes massive and mandatory penalties for data breaches at companies like Equifax — and provides robust compensation for affected consumers — which will put money back into peoples’ pockets and help stop these kinds of breaches from happening again."
In his own statement Warner said that, “In today’s information economy, data is an enormous asset. But if companies like Equifax can’t properly safeguard the enormous amounts of highly sensitive data they are collecting and centralizing, then they shouldn’t be collecting it in the first place.”
Amen. Even though this bill faces an uphill battle because the system is rigged to make things smooth and easy sailing for the powerful data miners and other big corporations, call every elected official in your state anyway and demand they get behind it.
Because the next time a big data breach happens, YOU could be screwed for a very long time.
Ask anyone who has been through the nightmare of identify theft.