Exploring Data Privacy Laws and Marketplace Promotions

As consumers, we leave trails of personal data all over the internet. And collecting and selling it is big business. Sensitive information, like our Social Security numbers, incomes and credit scores, are often sold by so-called data brokers to the highest bidder. Sometimes that’s a bank, sometimes it’s a scammer. This month, the federal Consumer Financial Protection Bureau proposed a rule that would crack down on the practice. It would bar companies from selling sensitive data or hold them to the same legal standards that apply to credit reporting agencies. Rohit Chopra, director of the CFPB, explained the proposal in more detail to Marketplace’s Meghan McCarty Carino.