Senate GOP Asks Watchdog To Review CFPB Data Collection

Law360, New York (July 3, 2013, 5:41 PM EDT) -- A top Senate Republican on Tuesday asked a government watchdog to review whether the Consumer Financial Protection Bureau's collection of consumer spending data violated the agency's authority and breached privacy rules.

Sen. Mike Crapo of Idaho, the ranking Republican on the Senate Banking Committee, also raised concerns that the CFPB's data collection practices, which the agency says are necessary to promote effective rulemaking, violated consumers' right to privacy in a letter to the Government Accountability Office.

“The size and scope of this data collection warrant proper...
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