(Bloomberg) – Lawmakers grilled former Equifax Inc. Chief Executive Officer Richard Smith on Tuesday after hackers attacked the company's systems and got access to sensitive information for 145.5 million Americans.

U.S. companies and government agencies have disclosed 1,022 breaches this year, according to the Identity Theft Resource Center. Lawmakers from both parties said it's time to enact tougher rules for data security.

Here are five ideas floated during the hearing:

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