Over the past couple of weeks both the FTC and CFPB announced initiatives that may make major changes to privacy and data security practices. The FTC released a notice of proposed rulemaking seeking input to what it describes as “the business of collecting, analyzing, and profiting from information about people.” 

Pawnbrokers are acutely aware of the “profiting” that third-party data companies obtain from our customers’ information we are required (one way or another) by law enforcement to submit on a daily basis. The FTC seeks to determine whether a new rule is needed in order to “protect people’s privacy and information in the commercial surveillance economy.” 

There will also be an opportunity for…