Hirono Urges Equifax to End Limits on Consumer RightsSeptember 12, 2017, 10:00 AM HST (Updated September 12, 2017, 9:21 AM)
U.S. Senators Mazie K. Hirono, Al Franken (D-Minn.), and Catherine Cortez Masto (D-Nev.) have called on Equifax—the credit bureau whose consumer database was recently hacked—to end its use of forced agreements that limit consumers’ rights to file class action lawsuits against the company.
In a letter sent to Equifax, Sen. Hirono and 19 other U.S. Senate Democrats pressured the company’s CEO Richard Smith to end forced arbitration clauses in consumer agreements.
The Senators also called on Equifax to clarify its position on a new rule from the Consumer Financial Protection Bureau to limit the use of forced consumer agreements in the financial services sector.
Equifax is one of the three largest credit bureaus in the country. The company gathers and stores personal consumer information including Social Security numbers, home addresses and consumer financial information to determine consumer credit scores in the U.S.
The letter was also signed by Sens. Tom Udall (D-N. Mex.), Ed Markey (D-Mass.), Richard Blumenthal (D-Conn.), Jack Reed (D-R.I.), Elizabeth Warren (D-Mass.), Dick Durbin (D-Ill.), Bob Menendez (D-N.J.), Tammy Baldwin (D-Wis.), Mark Warner (D-Va.), Sherrod Brown (D-Ohio), Ron Wyden (D-Ore.), Heidi Heitkamp (D-N. Dak.), Cory Booker (D-N.J.), Patty Murray (D-Wash.), Patrick Leahy (D-Vt.), Chris Van Hollen (D-Md.) and Martin Heinrich (D-N. Mex.).