The Consumer Financial Protection Bureau plans to rescind a number of Biden-era proposals in its latest regulatory retreat, including one that would’ve subjected data brokers to the same rules as consumer credit reporting companies.
The proposed data broker rule, issued in December, was intended to limit the ability of brokers to sell Americans’ personal and financial records for advertising and other purposes. But it doesn’t align with the Trump administration’s interpretation of the Fair Credit Reporting Act, a 1970 law governing consumer credit reports, according to a notice posted in the Federal Register’s public inspection file Wednesday.
The plan ...