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ARTICLE · 20 MAY 2025

CFPB Withdraws Proposed Rule On Data Broker Practices

Goodwin Procter LLP
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Welcome to Goodwin's Financial Services News Roundup. Our newsletter highlights important legal, regulatory, and business developments related to financial services and banking.

United StatesFinance and Banking
Josh Burlingham
Josh Burlingham
Samantha Kirby
Samantha Kirby
William McCurdy
William McCurdy

Welcome to Goodwin's Financial Services News Roundup. Our newsletter highlights important legal, regulatory, and business developments related to financial services and banking.

In this issue

  1. CFPB Withdraws Proposed Rule on Data Broker Practices
  2. CFPB Rescinds Over 60 Pieces of Guidance
  3. OCC Clarifies Bank Authority to Engage in Crypto-Asset Custody and Execution Services
  4. OCC Issues Interim Final Rule on Bank Mergers
  5. OCC Releases RFI on Community Bank Digitization

1. CFPB Withdraws Proposed Rule on Data Broker Practices

On May 15, the Consumer Financial Protection Bureau (CFPB) withdrew its proposed rule, Protecting Americans from Harmful Data Broker Practices (Regulation V), via notice in the Federal Register. The proposed rule aimed to rein in data brokers that sell Americans' sensitive personal and financial information by, among other things, treating data brokers as "consumer reporting agencies" under the Fair Credit Reporting Act (FCRA) and

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