But using it in the life-insurance application process would "raise questions" about whether the data would be subject to the federal Fair Credit Reporting Act, says Rebecca Kuehn of the Federal Trade Commission's division of privacy and identity protection.

WSJ: Insurers Test Data Profiles to Identify Risky Clients

The bankers argue that the affiliate sharing restrictions are plainly preempted by the federal Fair Credit Reporting Act.

FORBES: Privacy Showdown

The plaintiffs in the pending actions against Equifax claim the company violated the federal Fair Credit Reporting Act by failing to fully investigate complaints that it had mistakenly assigned them negative credit events.

FORBES: Credit Bureaus Wouldn't Cut It On 'CSI'