Consumer Financial Protection Bureau (CFPB)

Elizabeth Warren on the issues, in under 500 words

Photo: Scott Eisen/Getty Images

Elizabeth Warren is a Massachusetts senator known for her consumer advocacy and efforts to regulate big financial institutions. Her brainchild, the Consumer Financial Protection Bureau, was created in 2011.

Unpacking the Equifax settlement

 Illustration of a greeting card that says "Sorry!" next to a stack of cash.
Illustration: Aïda Amer/Axios

After Equifax agreed this week to a landmark settlement with state and federal regulators for its historic 2017 data breach, regulators are hoping that its penalties — which will cost Equifax up to $700 million — are big enough to deter the next firm from allowing the next breach.

Why it matters: There has never before been a breach like Equifax, where enough personal data was pilfered to steal the identity of the majority of U.S. adults. It's a milestone that consumers and regulators alike hope will only happen the once.