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Daily Dashboard | CFPB director says credit rating agencies will receive embedded regulators following Equifax breach Related reading: Notes from the IAPP, Oct. 18, 2019

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Following the Equifax data breach, Consumer Financial Protection Bureau Director Richard Cordray said credit rating agencies will be getting embedded regulators to ensure similar attacks do not occur, CNBC reports. "If they're going to restore public confidence in this marketplace and if they're going to create the kind of reforms necessary, they're going to have to recognize the old days of just doing what they want, being subject to lawsuits now and then, are over," he said. "There has to be a scheme of preventive monitoring in place." Cordray said the Equifax data breach was "far beyond" the attacks at both Target and Home Depot and demanded a stronger reaction. Cordray also said the CFPB will work with Congress to develop measures on the ways companies handle data and react to data breaches.
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