CFPB Requests Information About Data Brokers for Planned Rulemaking
The Consumer Financial Protection Bureau (CFPB) announced on March 15, 2023, that it is issuing a Request for Information (RFI) about the business practices of data brokers, which the agency said will assist it in "planned rulemaking" under the Fair Credit Reporting Act (FCRA). The CFPB has explained it is seeking information on (1) "new business models that sell consumer data," including information relevant to assessments of whether companies using these new business models are covered by the FCRA, and (2) "consumer harm and any market abuses, including those that resemble harms Congress originally identified . . . in passing the FCRA."
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