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   Trump administration scuppers plan to stop data brokers from putting    
   Americans sensitive data up for sale   
      
   Date:   
   Mon, 19 May 2025 14:03:00 +0000   
      
   Description:   
   The plan to ban brokers from selling sensitive data has been scrapped, citing   
   "misalignment".   
      
   FULL STORY   
   ======================================================================   
      
   The plan to prevent data brokers from selling personal and financial   
   information generated from American citizens has been scrapped.    
      
   In the US, data brokers can harvest and sell sensitive information on the   
   countrys citizens, including names, addresses, Social Security numbers,   
   browsing history data, purchase history, location data, and more. Usual    
   buyers include advertisers and marketers, financial institutions, recruiters,   
   government organizations, and insurance companies.    
      
   In late 2024, the Consumer Financial Protection Bureau (CFPB) announced plans   
   to adjust the Fair Credit Reporting Act, a federal law that regulates how   
   consumer credit information is collected, used, and shared. It was supposed    
   to treat data brokers the same as any other company, which should have forced   
   them to comply with the laws privacy rules.    
      
   Protecting the citizens   
      
   However, that rule was withdrawn recently, TechCrunch reported, citing a new   
   listing in the Federal Register. Apparently, the CFPBs acting director,   
   Russell Vought, wrote that the rule is not aligned with the Bureaus current   
   interpretation of the Fair Credit Reporting Act.    
      
   The CFPB wanted to prevent data brokers from selling data on US citizens   
   citing privacy risks, discrimination, lack of transparency, and regulatory   
   gaps. Allegedly, the goal was to protect consumers from harmful or unfair use   
   of their personal information. TechCrunch says that last year the FTC banned   
   several data brokers from collecting and sharing data without the permission   
   of the individuals.    
      
   It is also worth mentioning that data is the fuel for most cyberattacks these   
   days. Sensitive data is essential in phishing and spear-phishing attacks,   
   identity theft , and can often be useful in brute-forcing passwords. Thats    
   why the data brokerage industry is often the target itself.    
      
   In the last couple of years, there were multiple high-profile cyberattacks   
   against data brokerage and housing organizations, including the 2023 23andMe   
   attack, the 2024 National Public data breach, and the 2024 Snowflake    
   incident.    
      
    Via TechCrunch   
      
   ======================================================================   
   Link to news story:   
   https://www.techradar.com/pro/security/trump-administration-scuppers-plan-to-s   
   top-data-brokers-from-putting-americans-sensitive-data-up-for-sale   
      
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