Equifax Target of Data-Breach Bill Allowing Consumer Lawsuits

Rep. Katie Porter (D-Calif.) is preparing to take on the largest credit reporting bureaus with a data security proposal that would give consumers the right to sue after data breaches.

The Federal Trade Commission’s record-setting $700 million data breach settlement with Equifax Inc. last month was criticized by consumer advocates and lawmakers who felt the agency didn’t do enough to punish the company or remediate consumer harms. The 2017 hack exposed the data of 140 million people.

“The Equifax settlement, though historic in size, did not make consumers whole,” Porter said in an emailed statement to Bloomberg Law. “That’s in ...