{"id":8269,"date":"2023-09-13T19:39:16","date_gmt":"2023-09-13T23:39:16","guid":{"rendered":"https:\/\/joindeleteme.com\/blog\/?p=8269"},"modified":"2025-02-24T16:40:16","modified_gmt":"2025-02-24T21:40:16","slug":"director-of-consumer-financial-protection-bureau-cfpb-announces-potential-rule-changes-at-white-house-roundtable","status":"publish","type":"post","link":"https:\/\/joindeleteme.com\/blog\/director-of-consumer-financial-protection-bureau-cfpb-announces-potential-rule-changes-at-white-house-roundtable\/","title":{"rendered":"CFPB Director Announces Possible Rule Changes at White House Roundtable"},"content":{"rendered":"\n<p><a href=\"https:\/\/www.whitehouse.gov\/briefing-room\/statements-releases\/2023\/08\/16\/readout-of-white-house-roundtable-on-protecting-americans-from-harmful-data-broker-practices\/\" target=\"_blank\" rel=\"noopener\"><strong>White House holds roundtable session on \u201cProtecting Americans from Harmful Data Broker Practices\u201d<\/strong><\/a><strong>; <\/strong><a href=\"https:\/\/www.jdsupra.com\/legalnews\/cfpb-forecasts-new-rule-cracking-down-3070498\/\" target=\"_blank\" rel=\"noopener\"><strong>CFPB Director Rohit Chopra announces potential rule changes for consumer data reporting<\/strong><\/a><strong>&nbsp;<\/strong><\/p>\n\n\n\n<p>With the prospect of Federal consumer privacy legislation like the <strong>American Data Privacy and Protection Act<\/strong> (ADPPA) increasingly dim in Congress in 2023, the Executive Branch and its agencies have recently suggested more direct measures toward regulating the US data broker marketplace.<\/p>\n\n\n\n<p>During the White House session on August 16, 2023, the <a href=\"https:\/\/www.consumerfinance.gov\/\" target=\"_blank\" rel=\"noopener\">Consumer Financial Protection Bureau<\/a> (CFPB) director announced two specific rule changes under consideration:<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Redefining certain data brokers as \u201cConsumer Reporting Agencies\u201d, which would make them subject to Fair Credit Reporting Act (FCPA) rules restricting data sale only for purposes specified in the act; and&nbsp;<\/li>\n\n\n\n<li>Redefining \u201c<a href=\"https:\/\/www.tracers.com\/blog\/what-is-credit-header\/\" target=\"_blank\" rel=\"noopener\">Credit Header Data<\/a>\u201d (which are basic descriptive personal identifiable info or PII, typically less-restricted than financial records\/credit history themselves) as a \u201cConsumer Report\u201d, reducing the ability of companies to disclose people\u2019s sensitive contact information unless in specific required circumstances.<\/li>\n<\/ul>\n\n\n\n<p>Calls to regulate credit header data under FCRA have been made for <a href=\"https:\/\/privacyrights.org\/resources\/availability-sensitive-information-about-consumers-and-its-possible-use-financial-fraud\" target=\"_blank\" rel=\"noopener\">over 20 years<\/a> by privacy advocates, and <a href=\"https:\/\/patch.com\/oregon\/portland\/sen-wyden-looks-stop-selling-personal-data-brokers\" target=\"_blank\" rel=\"noopener\">recently reiterated<\/a> by members of congress and consumer rights organizations.&nbsp;<\/p>\n\n\n\n<p><strong>DeleteMe\u2019s take: <\/strong>The proposed changes to rules would directly impact businesses of the major credit reporting agencies (Experian, Equifax, Transunion), as well as a range of industries who rely on credit header data for direct marketing and identity authentication purposes.&nbsp;<\/p>\n\n\n\n<p>But it would also cut off a major source of sensitive data used by less-scrupulous, less-regulated parts of the data broker landscape: \u201cPeople Search\u201d, \u201cPrivate Investigator\u201d and \u201cBackground Check Services\u201d companies. Arguments that the changes would harm the ability of institutions to \u2018prevent fraud\u2019 is, in our view, one-sided and incomplete. The unregulated PII marketplace has allowed mass identity-based fraud to explode over the last decade, and forms of identity authentication relying on 3rd party PII verification have been in steady decline for years.<\/p>\n\n\n\n<p>Learn more about DeleteMe and our work for privacy and cybersecurity at <a href=\"https:\/\/joindeleteme.com\" data-type=\"link\" data-id=\"https:\/\/joindeleteme.com\">joindeleteme.com<\/a> <\/p>\n","protected":false},"excerpt":{"rendered":"<p>White House holds roundtable session on \u201cProtecting Americans from Harmful Data Broker Practices\u201d; CFPB Director Rohit Chopra announces potential rule changes for consumer data reporting&nbsp; With the prospect of Federal consumer privacy legislation like the American Data Privacy and Protection Act (ADPPA) increasingly dim in Congress in 2023, the Executive Branch and its agencies have [&hellip;]<\/p>\n","protected":false},"author":16,"featured_media":8270,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[23,38],"tags":[],"class_list":["post-8269","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-data-privacy","category-learn-more-data-brokers"],"acf":[],"_links":{"self":[{"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/posts\/8269","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/comments?post=8269"}],"version-history":[{"count":0,"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/posts\/8269\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/media\/8270"}],"wp:attachment":[{"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/media?parent=8269"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/categories?post=8269"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/joindeleteme.com\/wp-json\/wp\/v2\/tags?post=8269"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}