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TCH Submits Comments to the CFPB Regarding the Definition of Data Brokers

The Clearing House Association L.L.C. (TCH) provided comments to the Consumer Financial Protection Bureau (CFPB) in response to its Request for Information on Data Brokers and Other Business Practices Involving the Collection and Sale of Consumer Information.  The comment letter explains that any future definition of “data broker” which may be drafted by the CFPB should exclude certain activities of financial institutions which may be required by Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act and various federal laws regarding the collection and retention of information about the financial products and services that they provide to consumers.  

To read the full letter click here