[Federal Register Volume 90, Number 93 (Thursday, May 15, 2025)]
[Proposed Rules]
[Pages 20568-20569]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2025-08644]


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CONSUMER FINANCIAL PROTECTION BUREAU

12 CFR Part 1022

[Docket No. CFPB-2024-0044]
RIN 3170-AB27


Protecting Americans From Harmful Data Broker Practices 
(Regulation V); Withdrawal of Proposed Rule

AGENCY: Consumer Financial Protection Bureau.

ACTION: Proposed rule; withdrawal.

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SUMMARY: The Consumer Financial Protection Bureau (Bureau or CFPB) is 
withdrawing its Notice of Proposed Rule: Protecting Americans from 
Harmful Data Broker Practices (Regulation V) (NPRM). The Bureau has 
determined that legislative rulemaking is not necessary or appropriate 
at this time to address the subject matter of the NPRM. The Bureau will 
not take any further action on the NPRM.

DATES: The proposed rule is withdrawn as of May 15, 2025.

ADDRESSES: You can view and download related documents and public 
comments by going to the website http://www.regulations.gov. Enter the 
docket number CFPB-2024-0044 in the search field.

FOR FURTHER INFORMATION CONTACT: George Karithanom, Regulatory 
Implementation and Guidance Program Analyst, Office of Regulations, at 
202-435-7700 or https://reginquiries.consumerfinance.gov/. If you 
require this document in an alternative electronic format, please 
contact [email protected].

SUPPLEMENTARY INFORMATION: The Bureau is withdrawing the notice of 
proposed rulemaking published on December 13, 2024, 89 FR 101402, 
Protecting Americans from Harmful Data Broker Practices (Regulation V). 
The proposed rule would have implemented certain Fair Credit Reporting 
Act (FCRA) definitions of consumer report and consumer reporting agency 
as well as certain of the FCRA's provisions governing when consumer 
reporting agencies may furnish, and users may obtain, consumer reports.
    The Bureau is withdrawing this NPRM in light of updates to Bureau 
policies. Although the proposed rule intended to implement portions of 
the FCRA, in many respects it did so in a manner not aligned with the 
Bureau's current interpretation of the FCRA, which it is in the process 
of revising, and its changed policy objectives.
    Further, commenters raised numerous concerns related to this 
proposed rule that the Bureau believes require careful consideration 
before proceeding with a final rule. At least one commenter raised 
concerns related to the proposed rule's propriety under the plain text 
of the FCRA, and there were similar

[[Page 20569]]

questions as to the Bureau's statutory authority to issue many of the 
proposals. In light of these and other comments, the Bureau believes it 
would be inappropriate to proceed to a final rule. When and if the 
Bureau determines it necessary to issue a rule implementing the 
relevant definitions and provisions of the FCRA, it will propose a new 
rule and seek public comment thereon.

Authority and Issuance

    For each of these independently sufficient reasons, the Bureau is 
withdrawing the proposed rule titled, ``Protecting Americans from 
Harmful Data Broker Practices (Regulation V),'' published in the 
Federal Register on December 13, 2024.

Russell Vought,
Acting Director, Consumer Financial Protection Bureau.
[FR Doc. 2025-08644 Filed 5-14-25; 8:45 am]
BILLING CODE 4810-AM-P