Proposed Rule2025-08644
Protecting Americans From Harmful Data Broker Practices (Regulation V); Withdrawal of Proposed Rule
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
May 15, 2025
Issuing agencies
Consumer Financial Protection Bureau
Abstract
The Consumer Financial Protection Bureau (Bureau or CFPB) is withdrawing its Notice of Proposed Rule: Protecting Americans from Harmful Data Broker Practices (Regulation V) (NPRM). The Bureau has determined that legislative rulemaking is not necessary or appropriate at this time to address the subject matter of the NPRM. The Bureau will not take any further action on the NPRM.
Full Text
<html>
<head>
<title>Federal Register, Volume 90 Issue 93 (Thursday, May 15, 2025)</title>
</head>
<body><pre>
[Federal Register Volume 90, Number 93 (Thursday, May 15, 2025)]
[Proposed Rules]
[Pages 20568-20569]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2025-08644]
-----------------------------------------------------------------------
CONSUMER FINANCIAL PROTECTION BUREAU
12 CFR Part 1022
[Docket No. CFPB-2024-0044]
RIN 3170-AB27
Protecting Americans From Harmful Data Broker Practices
(Regulation V); Withdrawal of Proposed Rule
AGENCY: Consumer Financial Protection Bureau.
ACTION: Proposed rule; withdrawal.
-----------------------------------------------------------------------
SUMMARY: The Consumer Financial Protection Bureau (Bureau or CFPB) is
withdrawing its Notice of Proposed Rule: Protecting Americans from
Harmful Data Broker Practices (Regulation V) (NPRM). The Bureau has
determined that legislative rulemaking is not necessary or appropriate
at this time to address the subject matter of the NPRM. The Bureau will
not take any further action on the NPRM.
DATES: The proposed rule is withdrawn as of May 15, 2025.
ADDRESSES: You can view and download related documents and public
comments by going to the website <a href="http://www.regulations.gov">http://www.regulations.gov</a>. Enter the
docket number CFPB-2024-0044 in the search field.
FOR FURTHER INFORMATION CONTACT: George Karithanom, Regulatory
Implementation and Guidance Program Analyst, Office of Regulations, at
202-435-7700 or <a href="https://reginquiries.consumerfinance.gov/">https://reginquiries.consumerfinance.gov/</a>. If you
require this document in an alternative electronic format, please
contact <a href="/cdn-cgi/l/email-protection#10535640524f5173737563637972797c79646950737660723e777f66"><span class="__cf_email__" data-cfemail="195a5f495b46587a7a7c6a6a707b7075706d60597a7f697b377e766f">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The Bureau is withdrawing the notice of
proposed rulemaking published on December 13, 2024, 89 FR 101402,
Protecting Americans from Harmful Data Broker Practices (Regulation V).
The proposed rule would have implemented certain Fair Credit Reporting
Act (FCRA) definitions of consumer report and consumer reporting agency
as well as certain of the FCRA's provisions governing when consumer
reporting agencies may furnish, and users may obtain, consumer reports.
The Bureau is withdrawing this NPRM in light of updates to Bureau
policies. Although the proposed rule intended to implement portions of
the FCRA, in many respects it did so in a manner not aligned with the
Bureau's current interpretation of the FCRA, which it is in the process
of revising, and its changed policy objectives.
Further, commenters raised numerous concerns related to this
proposed rule that the Bureau believes require careful consideration
before proceeding with a final rule. At least one commenter raised
concerns related to the proposed rule's propriety under the plain text
of the FCRA, and there were similar
[[Page 20569]]
questions as to the Bureau's statutory authority to issue many of the
proposals. In light of these and other comments, the Bureau believes it
would be inappropriate to proceed to a final rule. When and if the
Bureau determines it necessary to issue a rule implementing the
relevant definitions and provisions of the FCRA, it will propose a new
rule and seek public comment thereon.
Authority and Issuance
For each of these independently sufficient reasons, the Bureau is
withdrawing the proposed rule titled, ``Protecting Americans from
Harmful Data Broker Practices (Regulation V),'' published in the
Federal Register on December 13, 2024.
Russell Vought,
Acting Director, Consumer Financial Protection Bureau.
[FR Doc. 2025-08644 Filed 5-14-25; 8:45 am]
BILLING CODE 4810-AM-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on May 15, 2025.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.