“The agency is seeking to collect data about our mortgage, credit card and student loan transactions. About 80 percent of our financial transactions are being monitored and I frankly think it will soon expand to 100 percent.” The CFPB data collection program has been highly controversial since the April 2013 hearing, when Cordray disclosed elements of the venture at a Senate Banking Committee hearing. At the time, the US Chamber of Commerce accused the CFPB of breaking the law by demanding the account-level data without a warrant or National Security Letter. Now, in the wake of the IRS scandal and National Security Agency (NSA) revelations, what was a controversy is now a full-blown scandal judicialwatch.org/press-room/weekly-updates/weekly-update-beat-the-aclu/
Posted on: Sat, 24 Aug 2013 21:18:29 +0000