CFPB Data Collection Protects Privacy, Cordray Says

Law360, Washington (November 12, 2013, 7:45 PM ET) -- Consumer Financial Protection Bureau Director Richard Cordray on Tuesday defended the agency’s use of credit card data in its oversight activities after several senators raised privacy concerns, telling the lawmakers that the agency uses only bulk “anonymized” data and is not interested in individuals.

Cordray was grilled by several members of the Senate Banking, Housing and Urban Affairs Committee, including Sens. David Vitter, R-La., and Pat Toomey, R-Pa., as well as ranking minority member Mike Crapo, R-Idaho, who cited reports he said had shown that the agency...
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