The Consumer Financial Protection Bureau published a “request for information” today asking the public to comment on data privacy protections on digital payments. 

The CFPB seeks comment regarding how to address intrusive data collection from digital payments platforms, including how consumer data is being collected, used and shared, according to today’s release. 

“When people pay for their family expenses using new forms of digital payments, they must be confident that their transactions are not tainted by harmful surveillance or errors,” CFPB Director Rohit Chopra said in the release. 

Consumer data protection is an ongoing priority at the CFPB, Debra Geister, head of regulatory compliance business lines at digital identity verification and fraud solution provider Socure, told Bank Automation News.  

Geister pointed to these CFPB actions: 

• Sued Early Warning Services, Bank of America, JPMorgan and Wells Fargo for failing to implement anti-fraud safeguards on P2P platform Zelle in December; and 

• Finalized the Section 1033 open banking regulation on Oct. 22. 

Comments must be submitted on or before April 11, according to the release. 

Register here for early-bird pricing for Bank Automation Summit 2025, taking place March 3-4 in Nashville, Tenn. View the full event agenda here.