U.S. House Committee on Financial Services Chairman French Hill and Vice-Chairman Bill Huizenga sent a comment letter to the Consumer Financial Protection Bureau (CFPB) responding to its advanced notice of proposed rulemaking on consumer personal financial data rights under Section 1033 of the Dodd-Frank Act. The lawmakers urged the CFPB to keep consumer choice central by ensuring rules allow consumers to share their financial data with authorized firms, while maintaining strong privacy and security standards. The letter commended the CFPB’s efforts to ensure consumers can meaningfully control and use their personal financial data, and recommended that any consumer financial data privacy and security requirements be based on existing frameworks under the Gramm-Leach-Bliley Act (GLBA).
U.S. Financial Services Committee 2025-11-21
U.S. House Committee on Financial Services urges CFPB to preserve consumer choice and ground Section 1033 data rules in GLBA privacy and security frameworks
U.S. House Committee on Financial Services leaders urged the Consumer Financial Protection Bureau (CFPB) to prioritize consumer choice in its proposed rulemaking on personal financial data rights under Section 1033 of the Dodd-Frank Act. They recommended aligning privacy and security requirements with existing frameworks under the Gramm-Leach-Bliley Act.