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New CFPB Rules Are Coming for Data Brokers

Faegre Drinker

At a Glance

The director of the Consumer Financial Protection Bureau (CFPB) recently announced that the agency will be developing new rules defining a data broker that sells certain types of consumer data as a “consumer reporting agency” under the Fair Credit Reporting Act (FCRA). The announcement, which was delivered at a White House Roundtable on Protecting Americans From Harmful Data Broker Practices, is designed “to ensure that modern-day data companies assembling profiles about individuals are meeting the requirements of FCRA.”



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