Rosen Leads Joint Resolution Against Change to Consumer Financial Protection Bureau Data Protection Policy

Last Fall, The Trump Administration Rescinded A Policy Designed To Protect Personal Consumer Information
WASHINGTON, DC –U.S. Senator Jacky Rosen is leading a Joint Resolution of Disapproval on the decision by the Consumer Financial Protection Bureau (CFPB) to end a rule that was in place to keep consumers’ sensitive data secure, and bolstered cybersecurity safeguards. This rule was one of more than 67 CFPB policies to protect consumers from unfair practices that has been rescinded since the start of Trump’s second term. Specifically, the rule that Senator Rosen is addressing in her resolution encouraged financial institutions to adopt stronger safeguards, including multi-factor authentication and software updates, to help protect consumers’ private information and reduce data breach risks.
“The American people deserve to know their sensitive financial information is safe from cyberattacks and data breaches,”said Senator Rosen.“The Consumer Financial Protection Bureau’s role is exactly what the name suggests – to protect consumers from unfair practices by our financial institutions, and that includes online banking information. That’s why I’ve introduced a resolution disapproving the Trump Administration’s change to CFPB policy, weakening consumer protections and data security. We have a responsibility to make sure our banks work for the American people, and not the other way around.”
Senator Rosen has worked to protect American consumers. Last year, Senator Rosen was part of aletterpressing the Trump Administration on how mass firings at the Consumer Financial Protection Bureau will hurt Nevada families. She also helpedintroduce a bill to protect consumers from scammersby restoring critical Consumer Financial Protection Bureau funding and rewarding whistleblowers who report wrongdoing. Senator Rosen also introducedlegislationto crack down on price gouging by corporate investors who are driving up housing prices.
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