Rep. Maxine Waters, D-Calif., ranking member of the House Committee on Financial Services, has called for an overhaul of the nation's credit reporting system. Sen. Elizabeth Warren, D-Mass., has introduced what she has called the Freedom from Equifax Exploitation Act, or FREE Act. The FREE Act allows every consumer to freeze and unfreeze their credit file for free. If a person's credit report is frozen, no one can access your data to open a new credit card or take a loan. Better Markets, an advocacy group, is calling for the Securities and Exchange Commission to require companies to "promptly" disclose a hack unless it's insignificant. (Equifax notified the public six weeks after it discovered the breach.)