Dustin Nofziger, a member of Pryor Cashman's Financial Institutions Group, spoke with CPO Magazine about the Consumer Financial Protection Bureau's (CFPB) plans to issue new rules that target data brokers.
In "US Consumer Finance Watchdog Proposes New Restrictions on Data Brokers," Dustin comments on possible legal challenges to the CFPB's move to restrict how data brokers handle consumer data:
Dustin Nofziger, counsel at Pryor Cashman, also notes that the data brokers will have legal ammunition to fight back given the current precarious state of the CFPB: "The ability of the CFPB to promulgate new rules or to enforce its existing rules is in serious question, with the Supreme Court to consider the constitutionality of the CFPB's unique funding scheme this term. While the constitutional issue is outstanding, data brokers can be expected to vigorously challenge any CFPB efforts to impose new rules upon the industry."
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