News & Analysis as of

Consumer Financial Protection Bureau (CFPB) Fair Credit Reporting Act (FCRA) Data Brokers

Orrick, Herrington & Sutcliffe LLP

CFPB’s Chopra discusses privacy concerns and floats FCRA proposal

On September 19, CFPB Director Rohit Chopra delivered prepared remarks highlighting national security concerns related to the abuse and misuse of personal data. As previously covered by InfoBytes, Chopra emphasized President...more

Ballard Spahr LLP

CFPB issues proposal to prohibit use of medical debt information in credit decisions

Ballard Spahr LLP on

The steady drumbeat of steps during Rohit Chopra’s tenure as CFPB Director to call into question the reliability and predictability of medical debt information in credit underwriting reached a crescendo last week with the...more

Shipkevich PLLC

CFPB Casts Larger Net over Credit Data Brokers, Furnishers, and Reporting Agencies.

Shipkevich PLLC on

Elections are looming around the corner for President Biden, which means it’s time to show results. In an effort to make an impact, the Consumer Financial Protection Bureau (“CFPB”) is making strides in the consumer credit...more

Sheppard Mullin Richter & Hampton LLP

CFPB Announces Potential FCRA Expansion Targeting Brokers of Consumer Data

On April 2, at an event at the White House on Data Protection and National Security, CFPB Director Rohit Chopra’s articulated potential changes to the data security regulation landscape and noted that the Bureau is...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

4 Key Takeaways for Privacy Professionals Taken From the IAPP 2024 Global Summit

We recently attended the International Association of Privacy Professionals (IAPP) 2024 Global Summit. The event provided great insights into privacy, artificial intelligence (AI), and regulatory issues, and we wanted to...more

Husch Blackwell LLP

FTC Orders Data Broker to Stop Sharing Sensitive Location Data

Husch Blackwell LLP on

In its May 2023 complaint, the FTC alleged that data broker Outlogic (formerly known as X-Mode Social) (hereafter Outlogic) had engaged in activities that violated Section 5(a) of the FTC Act (15 U.S.C. § 45(a)), which...more

Troutman Pepper

FTC's Sensitive Location Privacy Collection and Sale Expectations: Insights From Data Broker Settlements (and 10 Action Items to...

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Following several years of investigating the common practices in the space, the Federal Trade Commission (FTC) reached its first settlement with a data broker over the alleged collection and sale of location information that...more

Troutman Pepper

Data Furnishers Should Watch CFPB Plans for Class Actions

Troutman Pepper on

Information furnishers, beware. A potential rule under consideration by the Consumer Financial Protection Bureau is explicitly aimed at opening a new era of Fair Credit Reporting Act class actions against companies that...more

Troutman Pepper

Federal Magistrate Recommends Dismissal of FDCPA and FCRA Case on Statute of Limitation and Reasonableness of Reporting Grounds

Troutman Pepper on

On November 9, a magistrate judge in the Northern District of Georgia issued a Report & Recommendation to grant a motion to dismiss because the plaintiff’s Fair Debt Collection Practices Act (FDCPA) claims were time-barred...more

Kelley Drye & Warren LLP

CFPB Previews Proposals that Could Fundamentally Shift Data Broker Business

Kelley Drye & Warren LLP on

In connection with its convening of a panel of small businesses to provide input on potential regulatory actions, the CFPB released an outline of its proposals to use its rulemaking authority under the Fair Credit Reporting...more

Venable LLP

CFPB Releases FCRA Rulemaking Outline Topics

Venable LLP on

The Consumer Financial Protection Bureau (CFPB) is currently considering a rulemaking to address various consumer reporting topics under the Fair Credit Reporting Act (FCRA) and has released an Outline of Proposals and...more

Kilpatrick

CFPB Publishes Outline Detailing Planned Data Broker Rule

Kilpatrick on

On September 15, 2023, the CFPB issued an outline of its proposal to promulgate a rule under the Fair Credit Reporting Act (“FCRA”) which would regulate the consumer data collection and selling activities of data brokers. The...more

Eversheds Sutherland (US) LLP

CFPB proposal signals a dramatic expansion of the Fair Credit Reporting Act to data brokers

On September 15, 2023, the Consumer Financial Protection Bureau (CFPB) published an outline of expansive rulemaking proposals to modernize the coverage of the Fair Credit Reporting Act (FCRA) to include data brokers, data...more

Troutman Pepper

Troutman Pepper Weekly Consumer Financial Services Newsletter - September 2023 # 4

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To keep you informed of recent activities, below are several of the most significant federal and state events that have influenced the Consumer Finance Services industry over the past week...more

Troutman Pepper

CFPB Outlines Rulemaking Plan to Dramatically Alter Decades of FCRA Requirements for Everyone in the Consumer Data Ecosystem

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The Consumer Financial Protection Bureau (CFPB) has started the process of issuing rules on several topics affecting the entire ecosystem that collects, sells, and uses data about consumers, according to an Outline of the...more

Troutman Pepper

CFPB's Rulemaking Under the FCRA (Part 3) – Crossover Episode With FCRA Focus Podcast

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Join us for the third episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more

Troutman Pepper

CFPB's Rulemaking Under the FCRA (Part 3) – Crossover Episode With The Consumer Finance Podcast

Troutman Pepper on

Join us for the third episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more

Troutman Pepper

CFPB's Rulemaking Under the FCRA (Part 2) – Crossover Episode With FCRA Focus Podcast - Consumer Finance Podcast

Troutman Pepper on

Join us for the second episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more

Troutman Pepper

CFPB's Rulemaking Under the FCRA (Part 2) – Crossover Episode With The Consumer Finance Podcast - FCRA Focus Podcast

Troutman Pepper on

Join us for the second episode in a special three-part series covering the CFPB's intention to propose new rules under the Fair Credit Reporting Act (FCRA). In this episode, Troutman Pepper Partners Chris Willis, Dave...more

Perkins Coie

CFPB Announces Decision To Launch Rulemaking Targeting Data Brokers

Perkins Coie on

Following a related request for information (RFI) earlier this year, the Consumer Financial Protection Bureau (CFPB) announced on August 15, 2023, its intention to launch rulemaking targeting data brokers. This rulemaking...more

Dechert LLP

Dechert Cyber Bits - Issue 40

Dechert LLP on

FTC Settles with Experian for Alleged Customer Spamming - On August 14, 2023, the Federal Trade Commission (“FTC”) announced a proposed settlement involving Experian Consumer Services (“Experian”). A federal court entered...more

Husch Blackwell LLP

CFPB Director Issues Statement on FCRA Data Broker Proposed Regulation

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The Consumer Financial Protection Bureau (CFPB) has been at the forefront of discussions surrounding the evolving role of data brokers in today’s digital economy. In particular, Director Rohit Chopra recently announced that...more

Cadwalader, Wickersham & Taft LLP

CFPB Previews Upcoming Proposed Rules Under the FCRA That Will Address Artificial Intelligence

Recently, Rohit Chopra, the director of the Consumer Financial Protection Bureau (“CFPB”), shared remarks at a White House roundtable convened to address “harmful data broker practices.” Referring to data brokers as being...more

Jones Day

The Consumer Financial Protection Bureau Announces Sweeping Rulemaking for Companies That Collect and Furnish Personal Data

Jones Day on

On August 15, 2023, the Consumer Financial Protection Bureau ("CFPB") announced it was launching a rulemaking aimed at subjecting any company or entity that collects and sells consumer data to the Fair Credit Reporting Act...more

Kelley Drye & Warren LLP

Mounting Focus on Data Brokers: Is More Regulation Coming?

During the past year, there’s been a flurry of regulatory activity related to data brokers. Whether in Congress or state legislatures, at federal agencies or the White House, many policymakers are pushing in the direction of...more

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