CFPB looks to limit data freewheeling by brokers
In a move to protect consumers from fraud, stalking and spies, the Consumer Financial Protection Bureau (CFPB) wants to limit data brokers’ ability to sell Social Security numbers and other sensitive personal information and limit that to instances where it is deemed necessary, such as for obtaining a mortgage. The idea is for brokers to assume the role of “consumer reporting agencies” that must meet accuracy requirements and provide safeguards against data misuse.