White House scraps plan to block data brokers from selling Americans’ sensitive data

A senior Trump administration official has withdrawn a proposed rule that would have required data brokers to comply with privacy laws under the Fair Credit Reporting Act, marking a significant shift in federal efforts to regulate this lucrative industry. The CFPB had planned to treat data brokers no differently from other companies covered by the law, but Acting Director Russell Vought stated the rule wasn’t aligned with the Bureau’s current interpretation of the FCRA. This decision comes as the industry, valued at billions, continues to thrive despite risks like massive hacks exposing sensitive data.