Mulvaney Has ‘Pulled Back’ CFPB’s Probe of Equifax Data Breach

Mick Mulvaney, the director of the Office of Budget Management and President Trump’s interim director of the Consumer Financial Protection Bureau, is reported to have pulled back a full-scale probe into how credit-rating giant Equifax failed to protect the personal data of millions of consumers during its massive breach last year. In September, Equifax announced that hackers stole the personal data of over 143 million people, and former CFPB Director Richard Cordray authorized an investigation into the credit bureau. But Reuters reports the bureau’s effort into the investigation has “sputtered” since Mulvaney took the watchdog’s helm in November, citing three sources with knowledge of the matter. Mulvaney has “not ordered subpoenas against Equifax or sought sworn testimony from executives” and shelved “on-the-ground tests of how Equifax protects data” that were proposed by Cordray. The Federal Trade Commission is investigating the breach.