The stock of TransUnion (TRU) is experiencing a decline in pre-market trading on December 3, 2024. This movement comes amid the announcement of a new rule proposed by the Consumer Financial Protection Bureau (CFPB) aimed at regulating data brokers, including TransUnion. The proposed rule seeks to classify data brokers as consumer reporting agencies under the Fair Credit Reporting Act (FCRA), which would impose stricter regulations on how they handle and distribute sensitive consumer data. This regulatory change could significantly impact TransUnion's operations, as it would require the company to comply with new standards for data accuracy, protection, and consumer access.
The CFPB's proposal is part of a broader effort to address privacy and security concerns associated with the data broker industry. The rule aims to limit the sale of personal identifiers and ensure that consumer data is only shared for legitimate purposes, such as credit underwriting, rather than for marketing or other unauthorized uses. This move reflects growing concerns about the misuse of personal data and the potential risks it poses to national security and individual privacy.
TransUnion's stock is currently priced at $98.21, down 0.85% from the previous close of $99.05. The stock experienced a high of $101.35 and a low of $98.97 in pre-market trading.