U.S. Senator Ben Sasse, a member of the Senate Banking Committee, issued the following statement following reports that Equifax will pay up to a $700 million settlement over their 2017 data breach.

“This settlement is good news, but it’s not the end of the story. Millions of families had their data stolen and no settlement can put the genie back in the bottle. Years from now, there will be families who can’t get home loans, families stuck with crummy credit scores, and families battling fraudulent charges because their data was mishandled by Equifax.”

Background:

In October of 2017, Sasse raised concerns about the IRS’ decision to award Equifax a $7.2 million contract to handle sensitive taxpayer information, despite the company’s recent data breach exposing the personal information of over 145 million Americans. At Sasse’s insistence IRS suspended the contract.

In March of 2018, Sasse pushed for answers after Equifax’s CEO was charged with insider trading.