Protecting Americans from Harmful Data Broker Practices (Regulation V); Extension of Comment Period

Key Points

• 1Data brokers are companies that collect and sell personal information about Americans, including financial data, and this rule aims to limit how they can use that information
• 2The CFPB is giving people and organizations more time to submit feedback on the proposed rule before it becomes final
• 3The regulation would protect consumers from having their sensitive financial data sold to scammers, used for discrimination, or misused in other harmful ways
• 4This rule affects data brokers and financial companies that buy or sell personal information, requiring them to follow stricter rules about what they can do with your data
• 5The extended comment period allows the public to help shape the final rule, with feedback helping the CFPB decide what protections are most important

Key Dates