Mnuchin wants to know how consumer bureau is handling Equifax breach

Mnuchin wants to know how consumer bureau is handling Equifax breach
© Keren Carrion

Treasury Secretary Steven MnuchinSteven Terner MnuchinDem lawmaker calls for cryptocurrency probe after Mueller indictments Meet the woman who is Trump's new emissary to Capitol Hill On The Money: Fed chief lays out risks of trade war | Senate floats new Russia sanctions amid Trump backlash | House passes bill to boost business investment MORE said Tuesday he plans to talk with Consumer Financial Protection Bureau (CFPB) acting Director Mick MulvaneyJohn (Mick) Michael MulvaneyOn The Money: Trump rips Fed over rate hikes | Dems fume as consumer agency pick refuses to discuss border policy | Senate panel clears Trump IRS nominee Trump pick to head watchdog agency is who consumers need Dems fume as Trump's consumer bureau pick refuses to discuss role in border policy MORE about the bureau’s handling of an investigation into Equifax.

“I haven’t spoken to Director Mulvaney about it, but I will," Mnuchin said during testimony in front of the House Financial Services Committee.

“Do you have any reason why Mr. Mulvaney would even do such a thing?” Rep. David ScottDavid Albert ScottAssociated Press to replace exit polls with voter survey after 2016 inaccuracies Overnight Regulation: Senate passes Dodd-Frank rollback | SEC charges Theranos CEO with 'massive fraud' | Former Equifax exec charged with insider trading | FEC proposes changing digital ad rules Bipartisan House bill would replace consumer director with panel MORE (D-Ga.) asked Mnuchin.

“I’m not aware of that but as I said it is something I am going to discuss with him and we’ll take up at [the Financial Stability Oversight Council],” Mnuchin responded.

Reuters reported Monday that Mulvaney, who is also the director of the Office of Management and Budget, has eased the agency’s investigation into a massive data breach at Equifax. He has not sought subpoenas or sworn testimony, and the bureau has put on hold plans to test how the credit reporting company protects data.

A CFPB spokesperson said Tuesday the bureau is “looking into Equifax’s data breach and response,” but did not provide further details. 

“As policy, we do not confirm or deny enforcement or supervisory matters,” John Czwartacki, a senior adviser to Mulvaney, said in a statement. 

Hackers stole data from Equifax in a breach last year that affected nearly 150 million Americans. Additionally, Equifax was the subject of more complaints to the CFPB in 2017 than any other financial services company in all but one state. 

The Federal Trade Commission is investigating the breach and could fine the company.