I am against anything that makes the banks or credit reporting agencies stronger.
Have you been following the Equifax debacle? It's not even just the hack but the way they have deal with it has been a total joke.
First they created a brand new website that looked like a fake site where consumers could verify if they were part of the hack or not. The site was giving false positives. If you typed in the same information sometimes it would tell you that you were part of the hack and other times it would say you were not. People also reported typing in fake information like SSN 123456789 and John Doe and the site was telling them they were part of the hack.
Then Equifax was sending people to an actual fake website that someone had created because Equifax didn't even know their own URL.
Then their website was sending people to a page where the site was infecting peoples computer with malware.
So I am absolutely 1000% against anything that helps Equifax.
You just paraphrased the entire John Oliver show from last week. Is that all you know about the issue, what you saw on a comedy news program? You didn't verify the veracity of what he said after, did you? Remember, his is a comedy program
that leaves out bits and pieces for effect. When these bits get circulated around they are presented as facts, like a certain Fox News story that made the rounds here earlier.
About the repeal, in a class action lawsuit the individual plaintiffs get smaller settlements while the one law firm that represents the case makes a killing. The amended law doesn't exclude anyone from suing, it only prevents large class action lawsuits. The arguments for the decision say that it will cost financial institutions more in arbitration and legal fees to service the variety of individual lawsuits. The major voice against it says it gives the impression
that the individual is disempowered, not that they are actually disempowered.
The issue sits on a classical Republican/Democratic divide: Does the federal government need to get involved?