CFPB Cybersecurity UDAAP 
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).
PYMNTS
SEPTEMBER 22, 2017
And New York Governor Andrew Cuomo announced that he wants credit reporting firms to comply with the state’s new cybersecurity regulations, as well as require agencies to report their officers or directors who are responsible for compliance with laws and regulations involving financial services, banking and insurance each year.
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