The Consumer Financial Protection Bureau is legally required to process consumer complaints and share the data with states, a group of 22 Democratic state attorneys general argued Monday in a lawsuit seeking to block the Trump administration’s efforts to “defund” the agency.
Though the FTC is supposed to ensure “transparency and accountability,” it has fallen short during President Donald Trump’s second term, ex-Commissioner Rebecca Kelly Slaughter said during a "people's oversight" hearing hosted Wednesday by Public Knowledge. Another former FTC official during Trump's first term, Bilal Sayyed, said the agency's decline began during the Biden administration and has continued.
Former officials at the FTC and Consumer Financial Protection Bureau co-authored a guide on using existing privacy and consumer protection laws to regulate against AI chatbot harms to minors, the Electronic Privacy Information Center said Monday. EPIC co-wrote the white paper.
It will likely “take years” for courts to resolve issues related to the Consumer Financial Protection Bureau’s Personal Financial Data Rights (PFDR) Rule, Orrick attorneys said in a recent post.
The Consumer Financial Protection Bureau should retain consumer privacy protections in Section 1033 of the Dodd-Frank Act and continue guarding against third-party financial data abuse, consumer groups told the CFPB in comments due Tuesday (see 2508210038).
The Consumer Financial Protection Bureau’s proposed Dodd-Frank Act rule is an opportunity for banks, fintechs and data aggregators to help shape financial data regulation, attorneys at Cooley said Wednesday (see 2508210038).
Comments are due Oct. 21 on the Consumer Financial Protection Bureau’s proposed rule related to the Dodd-Frank Act, including privacy compliance issues, the CFPB said in a notice scheduled for Thursday publication in the Federal Register.
With federal agencies deemphasizing rulemaking and enforcement, “states are advancing more prescriptive cybersecurity standards for financial institutions, including many that align with the approach and standards set by the New York Department of Financial Services (NYDFS),” the Cooley law firm blogged Wednesday.
States should amend comprehensive privacy laws to remove loopholes for consumer reporting agencies (CRAs), the Electronic Privacy Information Center (EPIC) said in a white paper released Tuesday.
The Consumer Financial Protection Bureau should reconsider withdrawing its proposed data broker rule given the privacy-related harms linked to data brokers, Sen. Ruben Gallego, D-Ariz., said in a letter to acting Director Russell Vought on Friday.