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ARTICLE · 29 AUGUST 2023

CFPB Previews Upcoming Proposed Rules Under The FCRA That Will Address Artificial Intelligence

Hogan Lovells Cadwalader
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Last week, Rohit Chopra, the director of the Consumer Financial Protection Bureau ("CFPB"), shared remarks at a White House roundtable convened to address "harmful data broker practices."

United StatesTechnology
Mercedes Kelley Tunstall
Mercedes Kelley Tunstall
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Last week, Rohit Chopra, the director of the Consumer Financial Protection Bureau ("CFPB"), shared remarks at a White House roundtable convened to address "harmful data broker practices." Referring to data brokers as being part of the "surveillance industry," Chopra announced forthcoming rulemakings that are intended to "ensure that modern-day digital data brokers are not misusing or abusing our sensitive data" by using artificial intelligence and "other predictive decision-making" technologies. The proposed rule(s), which he forecast as being available for public comment sometime in 2024, would be based upon the Fair Credit Reporting Act ("FCRA"), as well as upon information received in response to the CFPB's Request For Information ("RFI," issued in March) requesting information on the data broker industry.

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