When he appeared before the Senate Banking Committee on April 23, Director Cordray was questioned by Republican Senators about reports that the CFPB was demanding voluminous amounts of information from banks it supervises related to financial products and services and buying data from vendors about various financial products and services. At the hearing, Mr.… Continue Reading
data collection
U.S. Chamber of Commerce challenges CFPB’s data collection
By Barbara S. Mishkin on
Posted in CFPB General, Regulatory and Enforcement
The CFPB’s data collection efforts are drawing fire from the U. S. Chamber of Commerce. Those efforts became a focus of attention as a result of an April 2013 report by Carter Dougherty of Bloomberg which revealed that the CFPB had been demanding voluminous amounts of information from banks related to credit cards and other financial products and services and had also been buying data from vendors about various financial products such as auto and payday loans. … Continue Reading