Cuomo Seeks Tougher Regulations Of Credit Bureaus After Equifax Fiasco

Albany, N.Y. - Governor Andrew Cuomo is now proposing new regulations of credit reporting agencies in the wake of the massive security breach at Equifax.

The new regulations would force companies like Equifax, Experian, and TransUnion to register with the State Department of Financial Services by February 1st and re register annually. This will allow the state to allow or deny a credit bureau from doing business in the state on an annual basis. It will also bring the bureaus under similar cyber-security regulations as banks, insurance companies, and other financial institutions.


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