The Consumer Financial Protection Bureau (CFPB) has closed its investigation into Meta’s data collection practices related to financial advertising. The case centered on whether Meta’s use of third-party financial information for targeted ads violated consumer protection laws. #Meta #CFPB #FinancialDataProtection #ConsumerProtectionAct
Keypoints
- The CFPB investigated Meta’s use of consumers’ financial data for targeted advertising.
- The agency announced the investigation’s closure in a report filed with SEC.
- The probe focused on potential violations of the Consumer Financial Protection Act.
- The CFPB considered possible lawsuit and financial penalties against Meta.
- Political and administrative struggles have impacted the CFPB’s operations and enforcement actions.
Read More: https://therecord.media/cfpb-meta-probe-advertising