Data Brokers Eyed by CFPB for Selling Sensitive Info for Ads, AI

Data brokers face new restrictions on selling people’s personal data to feed digital advertising and artificial intelligence under a forthcoming CFPB proposal.

The Consumer Financial Protection Bureau on Tuesday said it intends to propose a rule that would apply the Fair Credit Reporting Act to data brokers and other companies that collect, resell, aggregate, and license consumers’ personal information and financial data, often without their knowledge.

Data brokers have long been subject to scrutiny from consumer advocates and they’ve become a target of CFPB Director Rohit Chopra. The firms gather and sell information related to people’s finances, ...