CFPB Director Rohit Chopra Releases a Statement in Response to President Biden’s Executive Order To Protect Americans’ Sensitive Personal Data

February 28, 2024 / Source: CFPB

WASHINGTON, D.C. — Today, Consumer Financial Protection Bureau Director Rohit Chopra issued the following statement in response to President Biden’s Executive Order to protect Americans’ sensitive personal data from exploitation by countries of concern. The order focuses on rules to prevent the sale of bulk data to certain foreign entities and encourages the CFPB to consider taking steps to protect Americans from data brokers that are illegally assembling and selling extremely sensitive data, including that of U.S. military personnel. The CFPB has authority under the Fair Credit Reporting Act which covers entities that assemble and sell consumer data. Consistent with the executive order, the CFPB will propose rules to limit certain activities of data brokers, including those that sell personal data to those overseas.

CFPB DIRECTOR ROHIT CHOPRA:

“Today’s executive order is a reminder of the urgent need to protect the personal data of Americans. Corporate data brokers are assembling and selling extremely sensitive data on all of us, including U.S. military personnel, to foreign purchasers. The executive order calls on the CFPB to utilize its legal authorities to provide greater protections. This year, we will be proposing new rules to rein in these abuses that will safeguard families and our national security.”###