Consumer Financial Protection Bureau

CFA Joined Others Urging the CFPB to Issue a Strong Rule Giving Consumers True Control Over Their Data

CFA joined groups in comments to the Consumer Financial Protection Bureau in response to the Advanced Notice of Proposed Rulemaking regarding Consumer Access to Financial Records under Section 1033 of the Dodd-Frank Act. The comments outlined potential benefits and significant risks to consumers of authorized data access. The groups urged the CFPB to issue a strong rule mandating true consumer control over their own data, substantive limits on how companies can use and share data, and meaningful choice over whether consumers want to share that data.