Consumer Financial Protection Bureau withdraws data broker security proposal in response to policy shift

The Consumer Financial Protection Bureau has withdrawn a proposed rule to bolster security measures required for data brokers who sell personal information of Americans crafted during the Biden administration, as the regulatory agency makes a pivot on policy goals.

“The Consumer Financial Protection Bureau is withdrawing its Notice of Proposed Rule: Protecting Americans from Harmful Data Broker Practices. The Bureau has determined that legislative rulemaking is not necessary or appropriate at this time to address the subject matter of the...