CFPB Bites of the Month – April 2024 – Won’t Get Fooled Again, CFPB

Editor's Note: This article, authored by Justin B. Hosie, Eric L. Johnson, and Laura J. Bacon previously appeared in Hudson Cook’s Insights Blog and is re-published here with permission. 

April was another month with no shortage of action from the CFPB. In this month's article, we share some of our top "bites" of the month so you can stay on top of recent developments.

Bite 12: Director Chopra's White House Remarks on Data Protection

On April 2, 2024, Director Chopra delivered remarks at an event organized by the White House Office of Science and Technology Policy. There he discussed how the CFPB's Fair Credit Reporting Act (FCRA) enforcement can protect national security. Director Chopra stated that data breaches not only lead to consumer losses in the form of identity theft and misuse of account information but that major breaches have been linked to activity entities based in China. He stated that the President's Executive Order to Protect Americans' Sensitive Personal Data asks the CFPB to protect Americans from data brokers that are assuming and selling very sensitive data, including that of U.S. military personnel. Director Chopra said that the CFPB plans to propose rules to ensure that data brokers comply with the FCRA, restricting certain business practices and ensuring higher levels of accountability.

View this content by subscribing

Please register to unlock this content

I already have an account. Log in