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ARTICLE · 24 AUGUST 2023

CFPB Announces Plans To Extend FCRA To Data Brokers Through Rulemaking

Cooley LLP
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At an August 15, 2023, White House roundtable, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced plans to issue rules that would extend the Fair Credit Reporting Act...

United StatesTechnology
Jessica Pollet
Jessica Pollet
Michelle Rogers
Michelle Rogers
Margaux Curie
Margaux Curie
David Navetta
David Navetta
Allison Kutner
Allison Kutner
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At an August 15, 2023, White House roundtable, Consumer Financial Protection Bureau (CFPB) Director Rohit Chopra announced plans to issue rules that would extend the Fair Credit Reporting Act (FCRA) to certain "data broker practices."

This announcement and a concurrently issued fact sheet come on the heels of a March 2023 CFPB inquiry in which the bureau made clear it was reviewing and assessing data broker practices to inform a future rulemaking under FCRA.

Less than six months later, the CFPB appears poised to publish an outline of proposals and alternatives under consideration in September. Chopra also suggested that the bureau will publish the actual proposed rule, under FCRA, for public comment sometime in 2024.

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