The Consumer Financial Protection Bureau’s proposed Dodd-Frank Act rule is an opportunity for banks, fintechs and data aggregators to help shape financial data regulation, attorneys at Cooley said Wednesday (see 2508210038).
Comments are due Oct. 21 on the Consumer Financial Protection Bureau’s proposed rule related to the Dodd-Frank Act, including privacy compliance issues, the CFPB said in a notice scheduled for Thursday publication in the Federal Register.
With federal agencies deemphasizing rulemaking and enforcement, “states are advancing more prescriptive cybersecurity standards for financial institutions, including many that align with the approach and standards set by the New York Department of Financial Services (NYDFS),” the Cooley law firm blogged Wednesday.
States should amend comprehensive privacy laws to remove loopholes for consumer reporting agencies (CRAs), the Electronic Privacy Information Center (EPIC) said in a white paper released Tuesday.
The Consumer Financial Protection Bureau should reconsider withdrawing its proposed data broker rule given the privacy-related harms linked to data brokers, Sen. Ruben Gallego, D-Ariz., said in a letter to acting Director Russell Vought on Friday.
The Consumer Financial Protection Bureau will withdraw the Biden administration’s proposed data broker rule, the bureau announced in a notice scheduled for publication Thursday in the Federal Register. Industry groups requested the withdrawal in April comments (see 2504030059).
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The Consumer Financial Protection Bureau on Friday announced the withdrawal of nearly 70 guidance documents, interpretive rules, policy statements and advisory opinions.
The Consumer Financial Protection Bureau should finalize its proposed data broker rule to clarify consumer privacy rights under the Fair Credit Reporting Act (FCRA), consumer advocates said in comments due Friday. CFPB solicited comment on a request for information concerning data collection and monetization associated with personal finance services.
The U.S. Court of Appeals for the D.C. Circuit heard oral argument Wednesday on the National Treasury Employees Union’s pursuit of an emergency stay of President Donald Trump's executive order slashing staff at the Consumer Financial Protection Bureau. The challenge is one of several that NTEU, which represents FCC employees, has against recent efforts by Elon Musk’s Department of Government Efficiency (DOGE) and the Trump administration (see 2503310047).