US consumer finance watchdog appears to have data brokers in its crosshairs, announcing that it is developing a new rules proposal for the industry. CFPB specifically noted a focus on the impact of AI and announced that an outline of proposals will be released sometime in September.
With fines and penalties (such as potential shutdown of company operations) looming in November of this year, some companies are opting to bail out of China rather than even attempt to comply with the slew of new data regulations.
In recent years, this has meant regulation and legal enforcement around data collection have not kept pace with the exponential growth in the tech industry. This can oftentimes lead to big consequences for individuals.