Watchdog Says CFPB Needs To Work On Data Protection

By Shayna Posses (October 5, 2017, 3:36 PM EDT) -- The Consumer Financial Protection Bureau's internal watchdog has concluded that the agency needs to improve its handling of consumers' personal data and confidential investigation information, noting in a report that the regulator's lacking data protection practices could put sensitive details at risk.

The agency must step up its efforts to ensure that private and confidential information is appropriately safeguarded, the Office of the Inspector General said in a report dated Sept. 27 and released this week, recommending that the CFPB take actions such as restricting access to sensitive data, getting rid of unneeded files and improving employee training on proper practices....

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