Under the bill, Equifax would have had to pay at least a $1.5 billion penalty for the breach. "The financial incentives here are all out of whack - Equifax allowed personal data on more than half the adults in the country to get stolen, and its legal liability is so limited that it may end up making money off the breach," Warren said. "Our bill imposes massive and mandatory penalties for data breaches at companies like Equifax – and provides robust compensation for affected consumers – which will put money back into peoples' pockets and help stop these kinds of breaches from happening again." Related stories: New York launches tough new regs in wake of Equifax breach Internal review clears 4 Equifax execs from breach-related insider trading allegation