CFPB And FTC Take Aim At Bevy Of Data Practices

In the heat of summer, the nation's top consumer protection agencies have issued startling and transformative statements and rules regarding data practice.

• First up, the Consumer Financial Protection Bureau issued a so-called "interpretive rule" (which means that no one was provided advance notice of the rule nor had the ability to challenge rule provisions) that concluded that digital marketing companies, particularly those that have major search engines on which companies can buy advertising, are "covered persons" for purposes of the Consumer Financial Protection Act ("CFPA"). This rule means that such companies can, and presumably will, be held liable for violations of consumer financial services laws for advertisements that do not carry the proper disclosures or for marketing tactics that are deemed to be unfair, deceptive or abusive by the CFPB. Director Chopra noted in an accompanying speech that the "growing interest from Big Tech companies to find new ways