A new proposal by the Consumer Financial Protection Bureau would use a 54-year-old privacy law to impose new oversight of the data broker industry. But first, the agency must survive Elon Musk.

The Consumer Financial Protection Bureau (CFPB) on Tuesday rolled out a new proposal aimed at cracking down on data brokers selling Americans’ sensitive information. Under the proposed rule, the agency said it seeks to ensure data brokers comply with existing privacy law by treating “them as “consumer reporting agencies.

The consumer finance watchdog said it wants to ensure that sensitive personal data is shared only for ”legitimate purposes.”

Data brokers would face limits on selling Americans’ personal and financial records, including information about military personnel and data that could be used for advertising, under a new federal rule.

Data brokers have been getting away with selling Americans' personal and financial data, an illegal practice that a new rule proposed by the Consumer Financial Protection Bureau will intend to stop, CFPB Director Rohit Chopra said.

The Consumer Financial Protection Bureau issued a proposal to protect consumer data privacy and categorize data brokers that sell sensitive consumer data as "consumer reporting agencies" under the Fair Credit Reporting Act,

The Consumer Financial Protection Bureau is proposing a rule aimed at curbing the activities of data brokers who sell Americans’ sensitive personal and fin