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 MnuchinJPMorgan CEO withdraws from Saudi conference Ford Motor chairman pulls out of Saudi conference Durbin opposes Saudi arms sale over missing journalist MORE said Tuesday he plans to talk with Consumer Financial Protection Bureau (CFPB) acting Director Mick MulvaneyJohn (Mick) Michael MulvaneyTrump attacks Democrat in Ohio governor's race On The Money: Stocks slide for second day as Trump blames 'loco' Fed | Mulvaney calls for unity at consumer bureau | Pelosi says Dems will go after Trump tax returns Mulvaney calls for unity at consumer bureau amid racial controversy 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.