National Consumers League

NCL critical of CFPB's decision to stop protecting consumers from massive data breaches

February 6, 2018

Contact: NCL Communications, Carol McKay carolm@nclnet.org, (202) 207-2831

Washington, DC--Consumers should be extremely troubled by reports that Mick Mulvaney, acting director of the Consumer Financial Protection Bureau (CFPB), has stopped investigating the Equifax breach, which affected 143 million consumers’ accounts. Equifax’s mishandling of consumers' most personal data increased the risk of identity fraud for millions of consumers.

The following statement is attributable to John Breyault, Vice President of Public Policy, Telecommunications and Fraud: 

“The mission of the CFPB is simple: to protect consumers. In the wake of one of America’s most damaging data breach, 143 million Americans are now at increased risk for becoming a victim of identity fraud. Victims of such crime can have their ability to borrow, get a job, or rent a home damaged for years. The idea that protecting consumers from data breaches and identity fraud is somehow beyond the scope of the CFPB is ridiculous. It's time for the acting director of the CFPB to stop protecting businesses that harm Americans and fulfill the mission of its Congressionally-mandated mission. The CFPB must continue its investigation to make sure that a data breach like Equifax’s never happens again.”

###

About the National Consumers League
The National Consumers League, founded in 1899, is America's pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit http://www.nclnet.org.