Equifax likely to see no new rules
WASHINGTON (AP) — Prospects are good for a public shaming in the Equifax data breach, but it’s unlikely Congress will institute sweeping new regulations after hackers accessed the personal information of an estimated 143 million Americans.
Since early this year, President Donald Trump and the Republican-led Congress have strived to curb government’s influence on businesses, arguing that regulations stifle economic growth.
Several bills unveiled after Equifax are so far missing a key ingredient for success: Republican co-sponsors.
And most important, there is history. Despite numerous high-profile security breaches over the past decade, legislation that would enhance data storage standards and public notification requirements failed to gain the necessary traction.