US federal agencies FTC & CFPB tamp down on data sharing, ringing a warning bell in adland [Video]

Two US government agencies on Tuesday took action to limit the nonconsensual collection, use and sharing of consumers’ personal information. The developments could make accurate audience segmentation and ad targeting more difficult – but align with broader privacy trends globally.

The US’ Consumer Financial Protection Bureau (CFPB) is seeking to tighten the reins on data brokers, on Tuesday proposing a rule that would subject them to stricter oversight, including restrictions on the sale of consumers’ sensitive personal information such as phone numbers and Social Security numbers. It would also ensure that consumers’ financial information – such as their income – is only shared for “legitimate purposes, like facilitating a mortgage approval, and not sold to scammers targeting those in financial distress,” according to the filing.