The Consumer Financial Protection Bureau (CFPB) announced this week that it is launching an inquiry into the business practices of data brokerage firms to learn whether their impact on consumers can inform planned rulemaking under the Fair Credit Reporting Act (FCRA).In its request for information (RFI), the CFPB is attempting to learn the full scope of data brokers, their business practices, the potential impacts on the daily lives of consumers and whether they are all operating on the same set of rules, the Bureau said.
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