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NY Gov. Cuomo Wants Tougher Rules For Credit Reporting Firms


New York Gov. Andrew Cuomo is proposing tougher state regulations for credit reporting agencies such as Equifax in the wake of the massive hacking of the Atlanta-based company’s computers.

The Democrat announced Monday that he has directed the state Department of Financial Services to issue new regulations requiring credit reporting agencies to register in New York for the first time and to comply with the state’s cybersecurity standards.

The proposal, first reported by The New York Times, would require Equifax, Experian and similar firms to adhere to the same consumer protection rules the state imposes on banks and insurance companies.

Equifax announced last week that hackers broke into its software and gained access to Social Security numbers, birthdates, addresses and full legal names from a massive database maintained primarily for lenders.

(AP)



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