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Financial Services Law Insights and Observations

House Members Seek Information from Data Brokers

Consumer Reporting Privacy/Cyber Risk & Data Security

Fintech

On July 24, a bipartisan group of members of the House of Representatives, led by Representatives Barton (R-TX) and Markey (D-MA), sent letters to nine firms the members identified as “major data brokerage companies.” The letters ask each firm to provide information about how it collects, assembles, and sells consumer information.  Among the series of specific inquiries, the letters seek information about collection processes and sources, data security measures, and consumer fees and notices. The House members asked each company to respond by August 15, 2012.