Trump Administration Kills Biden-Era Rule to Restrict Sale of Americans’ Personal Data

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The Trump administration has withdrawn a key Biden-era proposal that would have severely limited the sale of U.S. consumers’ personal data by third-party data brokers, the Consumer Financial Protection Bureau (CFPB) confirmed Wednesday via a notice in the Federal Register.

The CFPB also scrapped proposed rules that aimed to:

  • Extend consumer protections to cryptocurrency and digital payment platforms

  • Ban certain fine print clauses in consumer finance contracts

📉 Why It Matters

Consumer privacy advocates say the rollback will leave Americans more vulnerable to scams, surveillance, and identity theft.

“The withdrawal of the data broker proposal leaves consumers vulnerable to scams and identity theft,” said Consumer Reports in a statement.

The Biden-era proposal, introduced in January, was championed by former CFPB Director Rohit Chopra, who warned that unregulated data sales posed both a personal and national security threat, particularly for government officials.

⚖️ Trump Administration’s Position

  • The CFPB, under acting director Russell Vought, said the proposal no longer reflects the bureau’s policy objectives.

  • Vought cited “numerous concerns” raised during the public comment period, including potential conflicts with the Fair Credit Reporting Act and broader federal law.

  • The administration has emphasized its intent to dismantle or sharply downsize the CFPB, initially proposing to eliminate the agency outright. Courts are still reviewing the legality of mass staff firings.

🧾 Additional Rollbacks

In recent weeks, the CFPB has:

  • Withdrawn dozens of policy and guidance documents dating back to 2011.

  • Paused efforts to regulate fine-print clauses often used to shield companies from liability.

  • Halted development of oversight for emerging fintech and crypto platforms.

🧭 Implications and Outlook

The rollback:

  • Signals a dramatic regulatory reversal in the consumer finance space

  • Raises new concerns over the commercial use of personal data amid rising cybercrime

  • May create legal ambiguity for data brokers, lenders, and fintech firms navigating a changing policy environment

While some tech and finance industry groups had pushed back on the Biden-era rules, citing compliance burdens and innovation risks, privacy watchdogs now fear the absence of federal safeguards will allow unchecked data harvesting and predatory digital financial practices to flourish.

AMD Launches $6 Billion Buyback Amid AI Sector Jitters, Shares Jump

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Advanced Micro Devices (AMD) announced a $6 billion stock buyback plan on Wednesday, signaling confidence in its long-term strategy despite recent underperformance in the AI chip race. The announcement triggered a 6.4% rise in AMD shares, though the stock remains down over 6% year-to-date.

The new buyback adds to AMD’s existing authorization, bringing the total repurchase capacity to $10 billion. The move follows similar shareholder-pleasing strategies by major semiconductor rivals amid signs that the AI-driven chip boom may be plateauing.

“Our expanded share repurchase program reflects the Board’s confidence in AMD’s strategic direction, growth prospects, and ability to consistently generate strong free cash flow,” said CEO Lisa Su.

📉 Context: Market Pressure and AI Uncertainty

  • AMD shares are down 6% in 2025, compared to a <1% drop for the Philadelphia Semiconductor Index.

  • In contrast, rivals have surged:

    • Nvidia shares: ↑170% in 2024

    • Broadcom shares: Doubled in value

    • Qualcomm announced a $15B buyback in November

    • Broadcom initiated its own $10B repurchase in April

🤖 AI Competition Heats Up

Despite being seen as Nvidia’s top rival in AI computing, AMD faces mounting pressure:

  • Custom processors from hyperscalers threaten AMD’s general-purpose AI chips.

  • Concerns are emerging over AMD’s ability to keep pace with Nvidia’s entrenched ecosystem and rapid innovation cycles.

  • The $10 billion AI collaboration with Humain, announced just a day prior, indicates AMD’s intent to catch up through strategic alliances.

💰 Financial Snapshot

  • Free cash flow in Q1 2025: $727 million, down 33% YoY.

  • Cash & equivalents (as of March 29): $6.05 billion

  • Current liabilities: $7.70 billion

While the cash cushion and buyback authorization underscore AMD’s longer-term confidence, its short-term financial metrics highlight margin pressures and investment demands as it expands into custom AI and datacenter segments.

🧭 Strategic Implications

AMD’s buyback aims to:

  • Support share price amid volatility

  • Reinforce investor confidence in AMD’s AI ambitions

  • Signal resilience in an increasingly cutthroat chip sector

As investor sentiment wavers on AI-related tech, AMD’s aggressive buyback and global partnerships could be pivotal in defending market share and reaffirming its place in the AI arms race.

Aeva Sells 6% Stake for $50M and Inks Manufacturing Deal, Shares Rise 3%

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Aeva Technologies, a Silicon Valley-based lidar sensor maker founded by ex-Apple engineers, announced on Wednesday that it has sold a 6% equity stake for $50 million to an unnamed strategic partner. The partner—described only as a technology-focused affiliate of a Global Fortune 500 company—will also take on future manufacturing responsibilities for Aeva’s passenger vehicle sensor production.

The announcement boosted Aeva’s stock by 3%, signaling investor optimism around the new cash injection and potential production scalability.

🔍 About Aeva’s Technology

  • Aeva develops lidar (light detection and ranging) sensors that offer 3D mapping capabilities for autonomous vehicles and industrial automation.

  • Unique to Aeva’s sensors is the ability to measure velocity, not just distance, enabling systems to differentiate between moving and stationary objects—critical for autonomous driving and factory robotics.

🤝 Strategic Manufacturing Partnership

  • The unnamed partner will support sensor production for passenger vehicles, suggesting a scaled manufacturing plan to meet automotive industry demand.

  • While not confirmed, the deal could accelerate Aeva’s entry into commercial automotive fleets, expanding beyond its current testing and pilot phases.

🚗 Existing Industry Collaborations

Aeva already has:

  • A partnership with Daimler Truck AG for autonomous driving.

  • Sensor applications in Japanese and German manufacturing firms to detect defects in fast-moving production lines.

💼 Financial Implications and Outlook

  • The $50 million stake sale gives Aeva additional runway as it gears up for broader deployment and earnings season.

  • The company was scheduled to report quarterly results after Wednesday’s market close, which could further illuminate growth strategy and customer traction.

This move aligns Aeva with an influential manufacturing player, potentially increasing its supply chain resilience and giving it the edge to compete in the intensifying lidar and autonomous tech markets.