Lawmakers take action on Equifax after cyber breach

Mike Stewart / AP

After Equifax, the credit reporting bureau, suffered a major cyber breach in which 143 million American consumers' personal data was compromised, lawmakers are taking action.

Why now: It was revealed yesterday that the company's terms of use prevent users from pursuing any type of class-action lawsuit if they use the Equifax site to check whether their info was breached. But the company has since claimed that the arbitration clause doesn't refer to the cyber security breach; rather, it applies to their free credit file monitoring and identity theft protection programs.