Data Breach Prevention and Compensation Act Reintroduced by Senators Warren and Warner
Senators Elizabeth Warren (D-Mass.) and Mark Warner (D-Va.) reintroduced the Data Breach Prevention and Compensation Act to hold large credit reporting agencies (CRAs)-including Equifax-accountable for data breaches involving consumer data.
The bill would give the Federal Trade Commission (FTC) more direct supervisory authority over data security at CRAs, impose mandatory penalties on CRAs for data breaches to incentivize adequate protection of consumer data, and provide robust compensation to consumers for stolen data.