CFPB Gives Extra Time to Slam Data Brokers
Published Date: 3/5/2025
Proposed Rule
Summary
The Consumer Financial Protection Bureau (CFPB) is giving everyone more time to share their thoughts on new rules about how data brokers handle your info. These rules aim to protect people by clarifying who can share and get consumer reports. If you want to speak up, you now have until April 2, 2025, to send in your comments—no money changes yet, just more time to weigh in!
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
CFPB proposal to define who can access consumer reports
The CFPB proposed amending Regulation V to implement the Fair Credit Reporting Act definitions of “consumer report” and “consumer reporting agency,” and to clarify when consumer reporting agencies may furnish and when users may obtain consumer reports. The proposal was published December 13, 2024; the public comment period for that proposal closes April 2, 2025.
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