4 ms·
I don't see how the facts of this article agree with the headline. Most potential sources for information were cited as having "no comment". There's been no o
by g051051 9y ago
I don't see how the facts of this article agree with the headline. Most potential sources for information were cited as having "no comment". There's been no official indication that the investigations have been abandoned.
> Three sources say, though, Mulvaney, the new CFPB chief, has not ordered subpoenas against Equifax or sought sworn testimony from executives, routine steps when launching a full-scale probe. Meanwhile the CFPB has shelved plans for on-the-ground tests of how Equifax protects data, an idea backed by Cordray.
So, beyond not issuing subpoenas (yet), and shelving plans for a security test, that's hardly putting the probe "on ice". It's possible the the statement from TransUnion was correct:
> We believe that it is clear that the CFPB was not given legal authority to supervise any financial institutions with respect to cybersecurity
In which case it's no surprise that the inspections were deferred or cancelled.