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

By Thomson Reuters Feb 28, 2024 | 1:05 PM

(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.

(Reporting by Douglas Gillison; Editing by Chris Reese)