The Center for Digital Democracy, National Consumer Law Center and the U.S. Public Interest Research Group filed comments Wednesday citing privacy concerns in response to the Treasury Department’s request for information on expanding access to credit through online marketplace lending. “Among the most challenging issues confronting consumers and other borrowers are new threats to their privacy and the ability to control how data are collected and used by online financial services companies,” CDD and USPIRG said in joint comments. Online lenders and financial service companies can use an array of big data-driven digital applications to “tap into the explosive growth of online, social and internal data to make better customer decisions,” they said. Given the lack of privacy protections online for American consumers, with their data freely gathered across devices by data brokers and many others, and the increasing expenditure of the financial services industry to use this information for actionable purposes, a key challenge for the Treasury Department is to propose a national consumer and small-business framework to protect privacy for online lending and related credit and lending sectors, CDD and USPIRG said. In its comments, the National Consumer Law Center expressed concern about the use of data in ways that are “potentially inconsistent with the protections of the Fair Credit Reporting Act, privacy rights and fair lending laws.” NCLC said it shared the privacy concerns other groups raised about the impact targeted advertising has on Americans, especially since most don’t know their personal data is used to “shape the offers they receive and the prices they pay online,” and particularly since lead generators gather data about potential borrowers and sell it to the highest bidder. In the payday loan market, that data can sometimes include sensitive financial information such as Social Security numbers and bank account numbers, NCLC said.
The Center for Digital Democracy, National Consumer Law Center and the U.S. Public Interest Research Group filed comments Wednesday citing privacy concerns in response to the Treasury Department’s request for information on expanding access to credit through online marketplace lending. “Among the most challenging issues confronting consumers and other borrowers are new threats to their privacy and the ability to control how data are collected and used by online financial services companies,” CDD and USPIRG said in joint comments. Online lenders and financial service companies can use an array of big data-driven digital applications to “tap into the explosive growth of online, social and internal data to make better customer decisions,” they said. Given the lack of privacy protections online for American consumers, with their data freely gathered across devices by data brokers and many others, and the increasing expenditure of the financial services industry to use this information for actionable purposes, a key challenge for the Treasury Department is to propose a national consumer and small-business framework to protect privacy for online lending and related credit and lending sectors, CDD and USPIRG said. In its comments, the National Consumer Law Center expressed concern about the use of data in ways that are “potentially inconsistent with the protections of the Fair Credit Reporting Act, privacy rights and fair lending laws.” NCLC said it shared the privacy concerns other groups raised about the impact targeted advertising has on Americans, especially since most don’t know their personal data is used to “shape the offers they receive and the prices they pay online,” and particularly since lead generators gather data about potential borrowers and sell it to the highest bidder. In the payday loan market, that data can sometimes include sensitive financial information such as Social Security numbers and bank account numbers, NCLC said.
CBP is “aware” of the recent Court of International Trade decision levying $2 million in penalties on a Texas woman who was paid $200 by a customs broker for her signature on a power of attorney (see 1509280063), but cannot confirm or deny whether it is taking action against the customs broker, said an agency spokeswoman. Though CBP knows of the “involvement of a licensed customs broker in these serious violations,” which include undervaluation and failure to redeliver, the agency “is not allowed by regulation to comment on any potential administrative actions until such actions are completed,” she said. “CBP values the important role of the licensed customs brokers and takes any actual or reported illicit activity of those companies or individuals very seriously,” said the agency spokeswoman.
CBP moved up the deployment date for Foreign Trade Zone entries in the Automated Commercial Environment following some initial concerns about adequate time for testing, said Cynthia Whittenburg, CBP executive director-trade policy and programs during the National Customs Brokers & Forwarders Association of America government affairs conference on Sept. 28. CBP previously said FTZ entries wouldn't be available for testing until after Feb. 27, alongside all other quota-related entry types that are scheduled to be deployed on the same day that ACE becomes mandatory. That plan raised some concerns among the Trade Support Network (see 1509100015).
The FCC proposal to remove filing requirements for imported devices is a “success story” within a multiagency effort to simplify international trade data filing within the U.S. government, said Cynthia Whittenburg, executive director, Trade Policy and Programs at Customs and Border Protection. Whittenburg mentioned the FCC proposal (see 1507210072) while speaking at a National Customs Brokers and Forwarders Association of America (NCBFAA) conference Monday. The multiagency work, which is being overseen by CBP, included a request that the involved agencies review data filing requirements, and the FCC came to the conclusion that the device certification information of its Form 740 is no longer useful, she said. The FCC is still accepting comments on the proposal and the NCBFAA recently submitted comments in support of the NPRM, while asking for some language changes (see 1509240044).
The FCC proposal to remove filing requirements for imported devices is a “success story” within a multiagency effort to simplify international trade data filing within the U.S. government, said Cynthia Whittenburg, executive director, Trade Policy and Programs at Customs and Border Protection. Whittenburg mentioned the FCC proposal (see 1507210072) while speaking at a National Customs Brokers and Forwarders Association of America (NCBFAA) conference Monday. The multiagency work, which is being overseen by CBP, included a request that the involved agencies review data filing requirements, and the FCC came to the conclusion that the device certification information of its Form 740 is no longer useful, she said. The FCC is still accepting comments on the proposal and the NCBFAA recently submitted comments in support of the NPRM, while asking for some language changes (see 1509240044).
The Court of International Trade on Sept. 28 ordered a Texas woman to pay over $2 million for her part in a get-rich-quick scheme proposed by a customs broker (here). Dionicio Bustamante, a licensed broker, approached Jeanette Pacheco at a “nightclub” and offered her $200 for her signature on a power of attorney, according to the CIT ruling. He proceeded to import undervalued dried peppers on her behalf. But when CBP caught onto the scheme, Pacheco found herself on the hook as the importer for penalties under 19 USC 1592 for undervaluation and failure to redeliver.
CBP Commissioner Gil Kerlikowske laid out some expectations for the customs broker industry as the profession evolves alongside the agency during a speech at a National Customs Brokers and Forwarders Association of America conference on Sept. 28. "CBP’s vision for the future Professional Broker is one that includes adapting to technology changes, maintaining expertise in compliance, while balancing responsibilities to clients and the law," he said (here). "Future changes include removing district boundaries, creating opportunities for brokers to leverage automation, expand your geographic reach, and increase your level of service and professional value."
International Trade Today is providing readers with some of the top stories for Sept. 21-25 in case they were missed.
Members of the National Customs Brokers and Forwarders Association of America (NCBFAA) were meeting with lawmakers on Capitol Hill Sept. 29 to request that several specific provisions make it into a final customs reauthorization bill. The meetings were part of the NCBFAA's Government Affairs Conference. The NCBFAA hopes to see House-proposed antidumping and countervailing duty enforcement language and streamlined drawback provisions in the final bill, according to a paper distributed by the NCBFAA to its members going to the Hill. Congress is still in the process of putting together a Customs Reauthorization conference to resolve differences between customs reauthorization legislation passed by each chamber (see 1507070066).