Financial reform groups are warning that the massive Equifax data breach underscores the need to curb mandatory arbitration and oversee credit bureaus. (Photo: Getty)

The Equifax cybersecurity breach that was announced Thursday and may have affected 143 million U.S. consumers’ personal information is sparking outrage in the financial services community.

House Financial Services Committee Chairman Jeb Hensarling announced Friday that he would hold a hearing, and Attorney General Eric T. Schneiderman of New York said he was launching a formal investigation.

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