CFPBProposed Rule
Protecting Americans from Harmful Data Broker Practices (Regulation V); Withdrawal
Finance & BankingTechnologyOther
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Summary
The Consumer Financial Protection Bureau (CFPB) proposed a rule to protect Americans from data brokers—companies that collect and sell personal information without your knowledge. The CFPB has now withdrawn this proposed rule, meaning it will not move forward at this time.
Key Points
- 1The rule was designed to stop data brokers from selling sensitive personal information like financial records, health data, and location history
- 2Data brokers are companies that gather information about you from many sources and sell it to other businesses, often without your permission
- 3The withdrawal means the CFPB is not pursuing this protection effort right now, leaving data brokers largely unregulated
- 4Consumers may continue to have limited control over how their personal information is collected and sold by these companies
- 5This could affect anyone with a credit card, phone, or online presence, as their data is frequently bought and sold
Key Dates
Published
May 15, 2025
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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