U.S. Senator Elizabeth Warren has begun an investigation into Equifax's massive data breach. She will also introduce a bill to give consumers the ability to freeze their credit for free. Fred Katayama reports.
U.S. Senator Elizabeth Warren opened an investigation into Equifax's massive data breach. She sent letters to the Consumer Financial Protection Bureau and the Federal Trade Commission asking about credit report agencies regulatory oversight. And she wrote to credit reporting companies - Equifax, TransUnion, and Experian - seeking answers on how the industry is responding to the crisis. Along with 11 other Democratic senators, Warren also introduced a bill to allow consumers to freeze their credit for free. Cyber security expert Adam Levin says it's a very important first step. (SOUNDBITE) ADAM K. LEVIN, CHAIRMAN AND FOUNDER OF CYBERSCOUT, AUTHOR OF "SWIPED" (ENGLISH) SAYING: "Because so much of our information is held by the credit reporting agencies, and so much of it is the same, the issue really is how well protected is that data, and what are the kinds of things that the bureaus should be doing in order to better protect our data and also better protect us against the possibility that unauthorized people could get access to that data." Last week, Equifax said hackers stole personal information of 143 million Americans from its database. Since then, the company has come under intense pressure for - what analysts called - a slow, inadequate and confusing response to the breach.