Protecting Americans From Harmful Data Broker Practices (Regulation V)

The Consumer Financial Protection Bureau (CFPB) is issuing a proposed rule for public comment to amend Regulation V, which implements the Fair Credit Reporting Act (FCRA). The proposed rule would implement the FCRA's definitions of consumer report and consumer reporting agency as well as certain of the FCRA's provisions governing when consumer reporting agencies may furnish, and users may obtain, consumer reports. The proposed rule is designed to, among other things, ensure that the FCRA's protections are applied to sensitive consumer information that the statute was enacted to protect, including information sold by data brokers.