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CFPB Must Improve Data Security Systems, Fed Report Says

Law360, New York (November 21, 2012, 2:08 PM EST) -- The Consumer Financial Protection Bureau still needs to develop a “comprehensive information security strategy” and more closely monitor contractors that handle sensitive data, a Tuesday report said, highlighting a concern for companies that provide reams of sensitive data to the new agency.

A report from the Federal Reserve's Office of the Inspector General found that the CFPB has taken major steps toward protecting data that it holds, much of it provided by the companies that the bureau regulates. However, steps to put together a comprehensive strategy...
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