Data brokers work in secrecy, collecting personal details about our lives. These entities collect, and misuse our personal information without our explicit consent.
The Rise of Data Brokers
The Consumer Financial Protection Bureau (CFPB) has taken notice, and their proposed regulations seek to hold data brokers accountable by subjecting them to the Fair Credit Reporting Act (FCRA). This move transcends mere privacy concerns—it is a matter of national security.
For instance, data brokers can facilitate targeting individuals by allowing entities to purchase lists that match multiple categories, such as “Intelligence and Counterterrorism” combined with descriptors like “substance abuse,” “heavy drinker,” or even “behind on bills.”
In other contexts, entities can buy records for pennies per person, leveraging relatively small investments into mass data collection. The concern is that adversaries, including countries like China, can use this data to identify targets for surveillance and other purposes. The government is increasingly worried about foreign governments’ access to Americans’ data.
The CFPB’s Call to Action
The Consumer Financial Protection Bureau intends to propose new regulations that will compel data brokers to follow the Fair Credit Reporting Act. Earlier this month, CFPB Director Rohit Chopr
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