The three largest credit bureaus - TransUnion, Experion and Equifax - have joined efforts to create an encryption standard they will share to better protect consumer data. The bureaus said they will develop and adopt a "data-cloaking" code using an encrypted algorithm and a 128-bit, secret key.
The companies say that a single, fortified industry standard will not only provide better safeguards against data theft, it will also make it easier on those that deal with their data.
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