Authorization Data Breach UDAAP 
PYMNTS
SEPTEMBER 22, 2017
Members of Congress are getting ready to grill Equifax CEO Richard Smith, who is set to testify about his company’s massive data breach that impacted as many as 143 million Americans. There is, however, some question as to whether they have the authority to do so — since Equifax is not strictly a financial company.
PYMNTS
SEPTEMBER 25, 2017
Because Equifax is not strictly a financial company, there was uncertainty over whether the CFPB has the power to penalize the firm for the breach. The CFPB and legal experts said the regulator could pursue Equifax under an aspect of the Dodd-Frank Act that bans unfair, deceptive and abusive acts and practices (UDAAP).
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