The U.S. Consumer Financial Protection Bureau announced an interpretive rule for digital marketing providers' advertising targeting practices in the financial sector. The rule defines "material services" provided by digital marketers that require compliance measures and explains potential enforcement scenarios by CFPB or other relevant agencies. "When Big Tech firms use sophisticated behavioral targeting techniques to market financial products, they must adhere to federal consumer financial protection laws," CFPB Director Rohit Chopra said. "Federal and state law enforcers can and should hold these firms accountable if they break the law."
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