The Future of Privacy Forum ('FPF') published, on 26 January 2023, its written comments filed in response to the proposed Consumer Financial Protection Bureau's ('CFPB') rulemaking aiming to establish data portability and access rights for consumers, and to facilitate their ability to switch between financial products. In particular, the FPF urged the CFPB to craft balanced and informed privacy rules that protect individuals' personal information while enhancing trust in the privacy and security of emerging data portability mechanisms.

Notably, the FPF provided more than 20 specific recommendations to the CFPB, and its comments suggest, among other things, the following:

• phasing out and eliminating the use of screen scraping;

• requiring all parties to implement security programs commensurate to their size and scale;

• encouraging the development of shared service platforms to manage notices and consent;

• establishing clarity surrounding the responsibilities of data providers, data receivers, and aggregators;

• requiring opt-in consent for secondary uses of data;

• leveraging other regulatory models for data retention and retrieval; and

• supporting and strengthening industry governance and technical standards.

You can read the press release here and the FPF's written comments here.