[lps41]

Actually, I think you've just shot down your own argument. Please explain why you feel that existing regulation of Equifax "didn't seem to help any". That is a truly laughable assertion.

Early in their history, credit agencies collected very private personal information about people for inclusion in their credit files. The information in peoples' credit files was frequently inaccurate, and consumers had no way of correcting that information, and no way of even knowing what was in their credit file.

The Fair Credit Reporting Act [1] limits the information that credit agencies can keep on people, mandates that people be allowed to access what is in their file, mandates that people be able to correct inaccurate information, and restrains how third parties can access the information.

In fact, that all sounds like a great start to regulation for social networks and other internet giants!

[1] https://en.wikipedia.org/wiki/Fair_Credit_Reporting_Act