U.S. Senator Ben Sasse, a member of the Senate Banking Committee, issued the following statement regarding the news that a former chief information officer at Equifax has been charged with insider trading.

“Let’s get this straight: Equifax put millions of Americans at risk, got a no-bid contract from the feds, and at least one employee turned a personal profit from trading on the misfortune of the victims. This isn’t a one-and-done problem for the millions of families who are still at risk. This goes way beyond today’s news cycle and beyond Mr. Ying’s trial – years from now, there are going to be families who can’t get home loans, families who have terrible credit scores, and families who are stuck fighting fraudulent charges because of Equifax. Someone has to answer for this.”

Background:

Last October, Senators Ben Sasse (R-Neb.) and Elizabeth Warren (D-Mass.) raised concerns about the IRS’ decision to award Equifax a $7.2 million contract to handle sensitive taxpayer information, despite the company’s data breach that exposed the personal information of millions of Americans. Following the criticism, the IRS suspended the contract.