THEY ARE COLLECTING YOUR FINANCIAL DATA TOO!! According to Duffy, the CFPB’s strategic plan calls for the agency to collect information from 80% of more than 1.6 billion credit cards currently in circulation. Duffy was unable to get a specific number, however, from Cordray during the hearing. ... Republican Congressman Sean Duffy repeatedly grilled President Barack Obama’s consumer watchdog agency appointee Thursday, after he refused to provide details on how many Americans the agency collects data on. Duffy is one of the many lawmakers who have expressed concern about the way the Consumer Financial Protection Bureau (CFPB), created in 2011, collects data to help determine new regulations to implement. “How many Americans are you collecting their financial data?” Duffy asked CFPB Director Richard Cordray on Thursday. "You come today ill-prepared to give us numbers on the number of Americans that have their financial transactions and data collected by the CFPB,” Duffy said. “What I think America deserves is the transparency that you’re promised,” added Duffy. “You come in and you stonewall. You try to explain but never do we get answers. Never does America get answers.”
Posted on: Sat, 14 Sep 2013 19:21:23 +0000
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