CFPB Proposes Redefining Big Players in Credit Reporting Market
Published Date: 8/8/2025
Proposed Rule
Summary
The CFPB wants to update the rules that decide which companies are 'big players' in the consumer reporting market. This could affect businesses that handle lots of consumer data, changing how they’re regulated. The Bureau is asking for feedback before making any new rules, so keep an eye out for updates that might impact your wallet or business soon!
Analyzed Economic Effects
1 provisions identified: 0 benefits, 0 costs, 1 mixed.
Possible Redefinition of 'Big' Consumer Data Firms
The CFPB is asking for information to decide whether to propose a rule that would amend the test defining larger participants in the consumer reporting market from the Final Rule published on July 20, 2012. This could change which companies that handle large amounts of consumer data are treated as 'larger participants' and therefore subject to the Bureau's larger-participant regulation.
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Key Dates
Department and Agencies
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