WASHINGTON (12/16/15)--Former Speaker of the House Newt Gingrich (R-Ga.) is among the witnesses at today’s U.S. House subcommittee hearing on mass data collection by the Consumer Financial Protection Bureau (CFPB). The hearing is scheduled to begin at 10:30 a.m. (ET), and will be streamed live.
This hearing will examine privacy, transparency, data security and other relevant issues pertaining to the CFPB’s data collection efforts. The CFPB’s data collection includes, among other things, arbitration case records, automobile sales records, consumer credit report information, credit card details, credit scores, mortgage loan-level data, private student loan data, and payday loan information.
Along with Gingrich, the witnesses will be: Wayne Abernathy, executive vice president for financial institutions policy and regulatory affairs, American Bankers Association; Mark Calabria, director of financial regulation studies, Cato Institute; and Deepak Gupta, founding principal, Gupta Wessler PLLC.
CUNA has expressed concerns about the CFPB’s data collection program, warning the bureau that its data collection practices could increase the risk of identity theft for consumers.