FTC Commissioner Julie Brill spoke about the new Consumer Financial Protection Bureau (“CFPB”) during a keynote address she delivered at the International Association of Privacy Professionals Second Annual Conference on December 7th. While describing how Congress enacted the Fair Credit Reporting Act (“FCRA”) to protect consumers’ personal information, Brill stated that the FTC and CFPB “need to make sure our current rules continue, in this technologically advanced age, to protect consumers’ rights under the FCRA.” Given that the FTC already has several staff members involved in setting up the CFPB, it is no surprise that the FTC plans to work in tandem with the CFPB to enforce existing consumer protection laws and to understand new uses of data in connection with such efforts.
During the address, Brill also outlined the major components of the FTC’s preliminary staff report on privacy, "Protecting Consumer Privacy in an Era of Rapid Change” which includes a proposal for a Do Not Track mechanism that would permit consumers to control their tracking preferences at every website they visit. For a more detailed discussion of the FTC’s Report, including the concepts behind Do Not Track, please click here to read the Kelley Drye client advisory.
Visit our sister blog, www.ConsumerFinanceLawBlog.com for more commentary on the development of the CFPB.