By Ellen Berge, Leonard Gordon and Jonathan Pompan (August 24, 2022, 2:38 p.m. EDT) — Thanks to a new rule of interpretation, the Consumer Financial Protection Bureau recently said digital marketers can be held liable under the Financial Consumer Protection Act if they engage in or materially contribute to unfair, deceptive or abusive practices in advertising financial products on behalf of banks and non-CFPA banks.
This latest in a series of interpretive rules issued by the bureau, when combined with recently announced Federal Trade Commission privacy regulations, confirms a coordinated effort by the two agencies to curb behavioral advertising.
Both agencies are concerned about whether the tracking information, algorithms, digital techniques and other tools used to decide…
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