15 May 2025
❌CFPB Withdraws Proposed Rule on Data Broker Practices
Protecting Americans From Harmful Data Broker Practices (Regulation V); Withdrawal of Proposed Rule
Summary
The Consumer Financial Protection Bureau (Bureau or CFPB) is withdrawing its Notice of Proposed Rule: Protecting Americans from Harmful Data Broker Practices (Regulation V) (NPRM). The Bureau has determined that legislative rulemaking is not necessary or appropriate at this time to address the subject matter of the NPRM. The Bureau will not take any further action on the NPRM.
Agencies
- Consumer Financial Protection Bureau
Business Impact
$ - Low
The withdrawal of the proposed rule does not introduce new compliance or regulatory requirements for businesses. It indicates that the CFPB found no immediate necessity for legislative action regarding data broker practices, which lessens regulatory uncertainty but has no direct business impact.