CFPB Director Rebuffs Comparison To NSA's Data Collection

Law360, New York (January 28, 2014, 6:50 PM EST) -- Consumer Financial Protection Bureau Director Richard Cordray on Tuesday forcefully rejected comparisons of the bureau's data-collection efforts to those of the National Security Agency, telling a House panel that the bureau's information-gathering is necessary to assess the effectiveness of regulations such as the qualified mortgage rule.

During a hearing held by the House Committee on Financial Services to review the CFPB's semi-annual report, Cordray faced a grilling by Republicans over issues including the bureau's data collection practices, the impact of the new qualified mortgage rule on...
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