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US consumer watchdog plans to regulate overseas sale of Americans’ data


US consumer watchdog plans to regulate overseas sale of Americans’ data By Reuters

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Published Feb 28, 2024 02:05PM ET
Updated Feb 28, 2024 04:52PM ET

© Reuters. Signage is seen at the Consumer Financial Protection Bureau (CFPB) headquarters in Washington, D.C., U.S., May 14, 2021. REUTERS/Andrew Kelly/File Photo

(Reuters) – The U.S. Consumer Financial Protection Bureau said on Wednesday it would create regulations governing data brokers’ sale of Americans’ personal data to overseas buyers, citing the risk of its exploitation by foreign adversaries.

The White House earlier Wednesday announced an executive order intended to help restrict the transfer of personal data to China, Russia and other countries on security grounds.

“Today’s executive order is a reminder of the urgent need to protect the personal data of Americans. Corporate data brokers are assembling and selling extremely sensitive data on all of us, including U.S. military personnel, to foreign purchasers,” CFPB Director Rohit Chopra said in a statement.

US consumer watchdog plans to regulate overseas sale of Americans’ data

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