With a divided Congress in place, policymakers will face challenges in passing major financial legislation this year. But there are still a number of core issues set to be debated.
The Consumer Financial Protection Bureau issued guidance late Friday that will shield some new mortgage data from the public that lenders are required to report.
Financial institutions had used existing banking laws as a shield against broader privacy protections, but a California law enacted this summer could threaten that strategy.
The CFPB made changes to a rule that allows financial firms to be exempt from sending annual privacy notices to customers if they meet certain conditions.
The measure, which has been compared to the EU’s new consumer privacy rules, grants Californians new rights over how companies collect and use their personal data.
A ballot initiative that taps into the public's anger about online data abuses has qualified for the November ballot. But lawmakers are considering whether to head off the statewide vote by passing a measure that may be more amenable to the financial industry.
A first-in-the-nation ballot initiative would give consumers more control over their personal information, but banks and other companies say that it would amount to a tax on doing business in the Golden State.
