Could CFPB proposed rule shine light on shadow data brokers?

One of the main critiques of the Consumer Financial Protection Bureau’s efforts to address data privacy issues has been the perceived lack of third-party oversight measures. The bureau’s newly proposed rule to redefine what companies would be considered data brokers subject to Fair Credit Reporting Act standards could help address this issue. Garris Horn Senior Partner John Levonick spoke with Dodd Frank Update about what the bureau’s proposal could mean for companies downstream of financial institutions and other traditional credit reporting agencies if implemented.