The White House hosted a roundtable meeting Tuesday on the data brokering industry as a part of an administration-wide push toward strengthening America’s consumer privacy landscape. The meeting brought together researchers, regulators, and consumer advocates. The Biden-Harris Administration has called for stronger national regulations on data brokering, or the buying and selling of personal consumer

In its July 2018 report on “A Financial System that Creates Economic Opportunities,” the U.S. Treasury Department outlined its proposals to identify improvements to the regulatory landscape to “better support nonbank financial institutions, embrace financial technology, and foster innovation.”

The Treasury Report contains over 80 specific recommendations for “Embracing Digitization, Data and Technology,”

In an effort to promote the development of new financial technology (fintech) products, Mick Mulvaney, Acting Director of the Consumer Financial Protection Bureau (CFPB), announced last week the creation of the Office of Innovation. Mulvaney said the new division, to be run by Paul Watkins under the umbrella of the CFPB, is designed to foster

The Consumer Financial Protection Bureau, one of the watchdogs of the financial services industry, has announced through Acting Director Mick Mulvaney, that it will no longer collect personal information of consumers due to cybersecurity concerns and in an effort to improve the CFPB’s cybersecurity program.

According to Mulvaney, the Inspector General’s report this year about

The Consumer Financial Protection Bureau(CFPB) recently issued principles for the access and disclosure of sensitive data in the financial services industry. The CFPB referred to the guidelines as principles instead of regulations so fintech and other firms can innovate while protecting consumers’ information, and give consumers the ability to consent to the sharing of information

Wading into the foray of enforcement of data security practices, the Consumer Financial Protection Bureau (CFPB) yesterday hit Dwolla Inc., an online payment processor with a $100,000 fine for a myriad of violations of the Consumer Financial Protection Act of 2010.

Specifically, the CFPB, in a scathing Order, outlined in detail the facts that Dwolla,

General Information Services (GIS) and e-Background-checks.com Inc. (e-Background) agreed to pay $13 million in restitution and fines to settle their violations of the Fair Credit Reporting Act (FCRA) charged by the Consumer Financial Protection Bureau (CFPB). The CFPB charged GIS and e-Background with failure to ensure that the background checks they produced to potential employers