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New consumer protection rules would block data brokers from selling Americans sensitive info
The Consumer Financial Protection Bureau hopes to rein in transactions that can expose Social Security numbers, financial details, and more.
"The CFPB’s proposed rule will curtail these practices that threaten our personal safety and undermine America’s national security." Just last week, the bureau announced broader regulatory oversight of companies managing digital wallets and payment processing, including Apple Pay and Venmo, which will now be categorized in the same way as banking institutions and creditors. The agency also expanded its ability to monitor Big Tech's data collection and sharing policies under consumer protection laws.
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