CFPB Gives Extra Time to Slam Data Brokers' Sneaky Practices
Published Date: 3/5/2025
Proposed Rule
Summary
The CFPB is updating rules to better protect people’s personal info from data brokers. They’re giving everyone more time—until April 2, 2025—to share their thoughts on these changes. This affects companies handling consumer reports and aims to keep your data safer without extra costs.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Stronger Limits on Data Brokers
The CFPB published a proposed rule on December 13, 2024 to amend Regulation V (which implements the Fair Credit Reporting Act) to specify the definitions of "consumer report" and "consumer reporting agency" and to govern when consumer reporting agencies may furnish, and users may obtain, consumer reports. The proposal is intended to better protect people’s personal information from data brokers and, according to the notice, would not impose extra costs on consumers.
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Key Dates
Department and Agencies
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