In one of its final regulatory efforts under the Biden administration, the Consumer Financial Protection Bureau (CFPB) proposed a new rule on Tuesday that aims to protect consumer financial data from misuse by limiting its sale by data brokers. The proposal has drawn criticism from industry trade groups concerned about its potential implications.

The U.S. consumer finance watchdog seeks to ensure that sensitive personal data is shared only for “legitimate purposes,” such as facilitating mortgage approvals, and doesn’t fall into the hands of scammers or other bad actors. To details ⇒

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