The Consumer Financial Protection Bureau is launching an inquiry into companies that track and collect information on the details of people’s personal lives. It’s seeking input on data brokers and how their business practices impact people’s daily life.
Companies that collect and monetize peoples’ personal data can pose significant harms, including privacy and security risks, the facilitation of harassment and fraud, and the spread of inaccurate information.
People often have little choice on whether to do business with these companies or whether to be tracked or surveilled However, the data these companies collect may play a big role in significant life decisions, such as buying a home or finding a job.
Americans ages 65 and older are less likely than those ages 18 to 29 to feel they have control over who can access things such as their physical location, purchases made online and offline, and their private conversations, according to the Pew Research Center.
The agency wants to hear about how these companies impact you or the people you serve and how they operate, including details about the types of data they collect and sell and the sources they rely on. It’s also interested in hearing about direct experiences with these companies, including attempts to remove, correct, or regain control of data.
You can submit a comment here until June 13, 2023.