GAO To Probe CFPB Data Collection Practices

Law360, New York (July 18, 2013, 3:32 PM EDT) -- A government watchdog agency on Thursday said that it would probe whether the Consumer Financial Protection Bureau's collection of consumer spending data violated the agency's authority and breached privacy rules.

The Government Accountability Office probe comes at the request of Idaho Sen. Mike Crapo, the top Republican on the Senate Banking Committee. The GAO said in a letter dated July 12 but released Thursday that the probe was “within the scope of its authority.”

Crapo has raised concerns about the CFPB's vast data collection program after...
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