Consumer Data Protection: Consumer reporting agencies are companies that collect, maintain, and sell vast amounts of sensitive data. GAO-19-469T: Published: Mar 26, 2019. Publicly Released: Mar 26, 2019.
“In 2017, a breach at Equifax, one of the largest companies, compromised at least 145.5 million consumers’ data. “Consumers have little control over what information these companies have, so federal oversight is important—and it could be improved. For example, the Consumer Financial Protection Bureau doesn’t routinely consider data security risk when prioritizing its company examinations. This testimony is based on a report in which we recommended improving federal enforcement of data safeguards and oversight of company security practices.”