When autocomplete results are available use up and down arrows to review and enter to select.
The Consumer Financial Protection Bureau reiterated its plan to propose new rules to prevent the misuse and abuse of consumer information collected by credit reporting companies and other data brokers.
Details: The CFPB cited Director Rohit Chopra’s recent remarks during a White House roundtable that the bureau will issue the proposed rules under the Fair Credit Reporting Act to address business practices used by companies that assemble and monetize data. The bureau also offers a fact sheet on its plans.
ICBA View: In a comment letter to the CFPB last month, ICBA said:
The bureau should hold data brokers and aggregators accountable under the FCRA by requiring disclosures to consumers about the information they collect and use.
However, because data brokers do not meet the definition of a consumer reporting agency, community banks do not qualify as furnishers.
Previous News
The Independent Community Bankers of America (ICBA) today commended the Federal Deposit Insurance Corp. board of directors for proposing debt requirements for banks over $100 billion in assets.
ImageAug 29, 2023
In light of Hurricane Idalia and in observance of National Preparedness Month in September, ICBA and the nation's community banks are reminding consumers to take prudent measures that can help speed up their financial recovery following a natural or man-made disaster.
Image
Aug 29, 2023
ICBA called on federal regulators to avoid disincentivizing the use of automated valuation models, or AVMs, which mortgage lenders use to value real estate collateral.
ImageAug 23, 2023
Related News Taxonomy
Jul 3, 2025
Jun 27, 2025
May 15, 2025