Bureau wants to offer another month for comments on ‘data brokers’ and their practices

You will have another month to submit comments about “data brokers” and their practices under an expected extension of a comment period that is currently set to expire June 13, according to a document filed Monday by the federal consumer financial protection agency.

In March, the Consumer Financial Protection Bureau (CFPB) announced an investigation into companies that track and collect information on people’s personal lives – known as data brokers. The CFPB said the probe was aimed at understanding the “full scope and breadth of data brokers and their business practices, their impact on the daily lives of consumers, and whether they are all playing by the same rules.”

The new comment deadline is July 15, according to a filing with the Federal Register, which is expected to be published tomorrow (June 13).

Ultimately, the agency indicated in March (when it announced the investigation) that the information it gathers will inform its efforts to administer the law, “including planned rulemaking under the FCRA” (Fair Credit Reporting Act).

Three months ago, the bureau said its scrutiny would seek information about the business practices used in the market to fuel the brokers. The agency said it is asking for public comment to help gather that information.

“The CFPB is interested in hearing about the business models and practices of the data broker market, including details about the types of data the brokers collect and sell and the sources they rely upon,” it said in March. “The feedback received will help the CFPB gain a better understanding about the current state of business practices in this area. The CFPB is also interested in hearing about people’s direct experiences with these companies, including when individuals attempt to remove, correct, or regain control of their data.”

Request for information; extension of comment period: Request for Information Regarding Data Brokers and Other Business Practices Involving the Collection and Sale of Consumer Information