Tag: financial privacy

  • CFPB Publishes Report Warning States of Risks of Exempting Financial Institutions from Privacy Laws 

    November 12, 2024

    “Exemptions from state data privacy laws can leave consumers at heightened risk with regard to their financial data,” the report found.  

    • Consumer Privacy

    • Data Protection

    • Privacy Laws

    • U.S. State Privacy Laws

    • Updates

  • CFPB Finalizes Strong Personal Financial Data Rights Rule with Data Minimization Requirements 

    October 24, 2024

    The Consumer Financial Protection Bureau has finalized new regulations to implement Section 1033 of the Dodd-Frank Act. The rule promotes financial inclusion and lays down some of the strongest consumer privacy protections in federal law.

    • Consumer Privacy

    • Cybersecurity

    • Data Brokers

    • Data Minimization

    • Data Protection

    • Data Security

    • Updates

  • EPIC Encourages FinCEN to Center Privacy and Data Security in Consumer Identification Methods

    May 29, 2024

    Yesterday EPIC submitted comments urging the Financial Crimes Enforcement Network (FinCEN) to require strong privacy and security protections in their Consumer Identification Program (CIP) Rule that governs how banks obtain full Social Security Numbers (SSN) from third-party verifiers when a consumer opens an account or applies for a credit card.

    • Consumer Privacy

    • Cybersecurity

    • Data Brokers

    • Data Protection

    • Data Security

    • Government Records & Privacy

    • Updates

  • EPIC Commends CFPB’s Personal Financial Data Rights Rulemaking 

    December 1, 2023

    EPIC joined Public Citizen and a coalition of civil society organizations this week in expressing support for the goals of the CFPB’s proposed Personal Financial Data Rights Rule. The rulemaking aims to enhance consumer privacy and data security and promote competition in the financial services industry.

    • Competition and Privacy

    • Consumer Privacy

    • Data Protection

    • Updates