U.S. Housing Policy Outlook: May 2018

Consumer Data Privacy in the Modern Age

By Stuart Pratt Housing Policy, Real Estate

Global Head of Public Policy & Industry Relations Stuart Pratt sits down to answer questions about consumer data privacy. He considers questions about how the unfolding privacy debate (in the wake of recent data breaches and perceived misconduct at data giants like Facebook) could impact flows of data even in the mortgage finance ecosystem. Mainstream news media reports almost every day that online personal data may be vulnerable to theft or manipulation. Increasingly, companies that collect and maintain consumer data are being scrutinized and it is now more important than ever to contemplate these questions.

  • In September of 2017 Equifax admitted to a data breach of 147 million consumer records. What is occurring at the state and federal level to address the issue of data privacy?
  • Facebook is the latest privacy headline. Have their issues brought forward a whole new set of data privacy issues?
  • Is there an example of a U.S. law that does a good job of providing some level of consumer protection and privacy?
  • Consumer data is important to the US finance economy. Can you explain how the Gramm–Leach–Bliley Act (GLBA) ensures appropriate data flows to allow necessary consumer information to be shared?

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