The Consumer Financial Protection Bureau (CFPB) recently announced that it is seeking information on data brokers’ practices. Data brokers are companies that collect, analyze, and sell consumer data to other businesses. The CFPB is concerned that data brokers may be collecting and selling consumer data without the consumer’s knowledge or consent.
The CFPB is looking to learn more about how data brokers collect, store, use, and share consumer data. The agency is also interested in learning how data brokers make money from the sale of consumer data and what types of consumer data they are collecting. The CFPB is also interested in learning how data brokers protect consumer data from unauthorized access or misuse.
The CFPB is requesting that data brokers provide information about their practices, including the types of consumer data they collect, how they use the data, and what measures they take to protect consumer data. The agency is also requesting that data brokers provide information about their business models and how they make money from the sale of consumer data.
The CFPB’s request for information is part of its ongoing effort to protect consumers from unfair, deceptive, or abusive practices. The agency is concerned that data brokers may be collecting and selling consumer data without the consumer’s knowledge or consent. By gathering information about data brokers’ practices, the CFPB hopes to better understand how consumer data is being used and ensure that consumers are adequately protected.
The CFPB’s request for information is an important step in protecting consumers from potential misuse of their personal data. By gathering information about data brokers’ practices, the CFPB can ensure that consumers are adequately protected and that their personal data is not being misused.
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