The CFPB reopened the comment period on a Request for Information issued to Amazon, Apple, Facebook, Google, PayPal and Square regarding how each firm uses personal payment data and manages data access.
A CFPB interpretive rule clarifying that digital marketing providers for financial firms can be subject to traditional service provider regulations became effective on August 17th.
Following the issuance of a CFPB interpretive rule that digital marketing service providers are subject to consumer protection regulations, CFPB Director Rohit Chopra warned that "[m]ore and more Americans are experiencing the feeling of being digitally stalked by specific ad content."
The CFPB issued an interpretive rule clarifying that "digital marketing providers that are materially involved in the development of content strategy would not fall within the “time or space” exception" of the definition of the term "service provider" under the Consumer Financial Protection Act.
A CFPB advisory opinion on the obligations of consumer reporting agencies and consumer report users under the Fair Credit Reporting Act ("FCRA") became effective July 12th.