CFPB's Mortgage Data Expansion Sparks Privacy Worries

Law360, Washington (February 13, 2014, 3:43 PM EST) -- As the Consumer Financial Protection Bureau considers drastically expanding mortgage lenders' reporting requirements to curb discriminatory lending practices, attorneys say the additional data disclosures could create new privacy concerns for borrowers and liability issues for banks.

According to last week's announcement, the CFPB's proposed new reporting requirements under the Home Mortgage Disclosure Act could include dozens of new data points ranging from borrowers' credit scores and ages to loan lengths and interest rates, all of which could be pieced together to identify individual homeowners, experts say....
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