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Credit reporting agencies face pressure from skeptical U.S. Congress

The massive data breach disclosed by Equifax in 2017, where a cyber attack exposed the personal data of roughly 148 million people, has driven calls from Washington for changes to the industry.

“Our nation’s consumer credit reporting system is broken,” said Representative Maxine Waters, chairwoman of the House Financial Services Committee. “I’m troubled to the point where I do think that we need to start thinking about how we reimagine it and rebuild it from the ground ... We will be introducing legislation.”

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credit scores