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US Consumer Financial Protection Bureau Prepares to Regulate Surveillance Industry
The Consumer Financial Protection Bureau is preparing to regulate the consumer surveillance industry responsible for buying and selling consumer data.
Privacy has been a growing concern for regulators and consumers alike, especially in the wake of revelations that companies are scooping up vast quantities of personal data and selling it to the highest bidder.
According to Reuters, the CFPB is preparing to regulate the industry and provide better protections to American consumers.
“The CFPB will be taking steps to ensure that modern-day data brokers in the surveillance industry know that they cannot engage in illegal collection and sharing of our data,” said Rohit Chopra, CFPG Director.
A plethora of concerns have surfaced regarding these data brokers, not the least of which is how the data will be used. Experts are increasingly concerned that victims of domestic violence, as well as those seeking help with addiction or various medical procedures, may be further harassed as a result of the data falling into the wrong hands.
US Consumer Financial Protection Bureau Prepares to Regulate Surveillance Industry
Staff
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