Leveraging Knowledge to Manage Your Data Risks
On July 29, 2025, the Consumer Financial Protection Bureau (CFPB) stated in a legal briefing that it has decided to reconsider an agency rule “with a view to substantially revis[e] it and provid[e] a robust justification.” The federal district court hearing the case granted the motion, thus pausing the lawsuit for now.
The rule at…
The Department of Government Efficiency’s (DOGE) staggering unfettered access to all Americans’ personal information is highly concerning. DOGE employees’ access includes databases at the Office of Personnel Management, the Department of Education, the Department of Health and Human Services, and the U.S. Treasury.
If you want more information about the DOGE employees who have…
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,…
In addition to providing long-term funding for highway infrastructure improvements and other transportation projects, the newly enacted Fixing America’s Surface Transportation Act (FAST Act) seeks to reduce consumer confusion by eliminating annual privacy notice requirements for financial institutions in some circumstances.
The Gramm-Leach-Bliley Act (GLBA) requires financial institutions to provide consumers with notice of the…
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…
The Consumer Financial Protection Bureau’s new “Know Before You Owe” mortgage disclosure rule is designed to prevent surprises at the closing table, but with increased transparency come concerns over borrower and seller privacy. The TILA RESPA Integrated Disclosure Rule (TRID) took effect October 3, 2015 and replaces four previous disclosure forms with just two, the…
In response to advanced payment technology and consumers’ preference to non-traditional payment systems of writing checks, paying cash, or swiping a credit or debit card, the Consumer Financial Protection Bureau (CFPB) recently released a list of nine “Consumer Protection Principles” that CFPB says is its “vision of consumer protection in new faster payments systems….faster payments…
