Five months after the disclosure of the massive Equifax data breach, federal scrutiny of how the credit-reporting bureau allowed the hack to occur is easing significantly, according to news reports. Mick Mulvaney, interim head of the Consumer Financial Protection Bureau, is "pulling back" from a full investigation, finance news site CNBC.com reports.
Feds are pulling back on investigating Equifax, report says
Because of the threat of financial ruin, consumers must take a proactive approach to protecting their information for the foreseeable future. As part of a two-pronged approach, money expert Clark Howard says, "It's imperative that you freeze your credit with all three main credit reporting agencies: Equifax, Experian and TransUnion." Here's how to do it:
2 simple steps you should do to protect your personal info
1. Sign up for Credit Karma's free credit monitoring: Go to CreditKarma.com and sign up for a free account to monitor your credit and identity. The company will notify you via email anytime it detects unusual activity on your account. You also get advice on what factors can affect your credit scores and how to remedy them.
2. Freeze your credit with all three main credit bureaus: Freezing your credit files is the#1 to stop hackers from using — and abusing — your data. Clark says you should freeze your credit even if the Equifax hack never occurred.