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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 MnuchinOvernight Tech: Judge blocks AT&T request for DOJ communications | Facebook VP apologizes for tweets about Mueller probe | Tech wants Treasury to fight EU tax proposal Overnight Regulation: Trump to take steps to ban bump stocks | Trump eases rules on insurance sold outside of ObamaCare | FCC to officially rescind net neutrality Thursday | Obama EPA chief: Reg rollback won't stand Big tech lobbying groups push Treasury to speak out on EU tax proposal MORE said Tuesday he plans to talk with Consumer Financial Protection Bureau (CFPB) acting Director Mick MulvaneyJohn (Mick) Michael MulvaneyPoll: Majority disapproves of Trump's military parade plan Mulvaney travels to Middle East: report Pentagon concerns mounting about Trump’s proposed parade: report 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 ScottMnuchin wants to know how consumer bureau is handling Equifax breach 'Chain migration' doesn't work the way Trump tells you it does Wall Street woos black lawmakers MORE (D-Ga.) asked Mnuchin.

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“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.