#GLBA

Shortly before the inauguration, the CFPB released a request for information (RFI) on how consumer-finance companies handle consumer data, focusing in particular on data monetization.  As an RFI, this request is not directly subject to President Trump’s order affecting pending rulemakings, but a new CFPB director could withdraw or revise it.  Should that not be the case, the RFI could lead the new director to reopen the agency’s open-banking rule and/or mandate new privacy opt-out notices for nonbanking entities offering consumer financial services…

The full report is available to retainer clients. To find out how you can sign up for the service, click here and here.

 …