Beshear: State Needs To Bolster Consumer Protections Post-Equifax

Sep 25, 2017

Kentucky Attorney General Andy Beshear says the state must take action to protect consumers from data breaches like the ones that struck credit reporting agency Equifax – and he’s crafting a bill.

The Equifax breach compromised the financial information of up to an estimated 143 million Americans. Beshear says that could include roughly 40 percent of Kentucky families, and he says he’s fighting back.

"We are drafting a bill right now that would offer your protections in case one of these data breaches ever occurs again," he said in a video posted Monday.

Provisions in the bill would grant consumers a free credit freeze if their information is at risk while requiring all credit reports be encrypted. Beshear says, if another data breach occurs, his measure would also guarantee affected consumers three free credit reports a year from each of the major reporting agencies and five years of free credit monitoring.

The attorney general of Massachusetts has filed a lawsuit against Equifax and it remains to seen how many states may follow. Beshear did not announce any legal action against the firm.