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Argumentative Essay On Equifax

1543 Words7 Pages

THESIS: The credit reporting agencies need to be revamped as they’re constantly jumping through legal hoops to avoid consequences caused by themselves to the people of America.
ABSTRACT: Consumer knowledge about the power-hungry credit bureaus in America is inadequate. The credit reporting agencies hold an exquisite amount of information containing individual’s financial records, among other valuable, sensitive data that can be viewed as “life-threatening.” These non-government entities are constantly walking away scratch-free from alarming events, such as the recently Equifax massive data breach of 2017, which affected over 143 million Americans. A majority of the population are in the dark when it comes to figuring out their credit score; …show more content…

Fortunately, there are U.S. Congress members such as Elizabeth Warren; among other people within Washington D.C., who are helping in fighting against the credit bureaus. Needless to say, the truth behind the credit bureaus is straightforward, they simply have too much power in their hands. The vast amount of information they have on everyone in the U.S. is beyond what the U.S. government can have a say it or control. The recent breach on Equifax created only some little minor consequences for their company; a hit to their assets; drop of stocks and the retirement of their CEO, versus the tremendous damage they caused to over 143 million American credit consumers, along with the countless of small businesses across the nation that were affected. The purpose of this research paper is on revealing the secret that lies on the other side of the CRA. The origin of the credit bureaus and what their purpose is; behind the scene of the 2017 Equifax data breach; methods of what consumers are doing to protect themselves from the …show more content…

III. CONCLUSION: Transition from the legislation movements, achievements, and the speck of the future into a near-ending, conclusion.
A. Summarize of what was discuss in the first body paragraph and add a personal author insight.
B. Summarize of what was discuss in the second body paragraph and add a personal author insight.
C. Summarize of what was discuss in the third body paragraph and add a personal author insight.
D. Tie all the body paragraphs together and conclude the paper with an ending personal note from the

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