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Rhode Island Enacts New Financial Institutions Cybersecurity Law With Immediate Effect

As the Consumer Financial Protection Bureau (CFPB) and Federal Trade Commission (FTC) scale back rulemaking and enforcement, states are advancing more prescriptive cybersecurity standards for financial institutions, including...more

CFPB Explores Options for Bringing Digital Payments Providers Under Privacy and Payments Laws

On January 10, 2025, the Consumer Financial Protection Bureau (CFPB) initiated rulemaking processes to examine and create a framework regarding data privacy and consumer protections in the digital payments industry. In a...more

CFPB Proposes New Rules That, If Finalized, Would Significantly Expand FCRA’s Reach

On December 3, 2024, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking (NPR) – Protecting Americans from Harmful Data Broker Practices. The CFPB’s proposal would amend Regulation V, which...more

CFPB Asserts State Consumer Privacy Laws Do Not Sufficiently Protect Consumer Financial Data

The Consumer Financial Protection Bureau (CFPB) published a report on November 12, 2024, examining state and federal privacy protections for consumer financial data....more

CFPB Says FCRA May Govern Background Report Providers and Users, Including Tech Companies

On October 24, 2024, the Consumer Financial Protection Bureau (CFPB) issued a consumer financial protection circular explaining that background reports, including scores, obtained from third parties and “used by employers to...more

CFPB Finalizes Section 1033 Rule on Personal Financial Data Rights

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) released its long-awaited final rule implementing Section 1033 of the Consumer Financial Protection Act (CFPA) concerning personal financial data rights....more

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