CFPB data collection to come under House subcommittee scrutiny

December 11, 2015

WASHINGTON (12/11/15)--A U.S. House subcommittee will examine the data collection practices of the Consumer Financial Protection Bureau (CFPB) in a hearing scheduled for Dec. 16.

Titled “Examining the CFPB’s Mass Data Collection Program,” the hearing will be conducted by the House Financial Services subcommittee on oversight and investigations, which is chaired by Rep. Sean Duffy (R-Wis.). A witness list has not been released.

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.

The Government Accountability Office shared some of those concerns in a September report, in which it reviewed 12 large-scale CFPB data collections and found three included individual consumer identification information.

The Dec. 16 hearing is scheduled to begin at 10 a.m. (ET), and will be streamed live on the committee’s website.