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CFPB: Some Privacy and Security Procedures for Data Collections Should Continue Being Enhanced 9.22.14
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Tuesday, September 23, 2014
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The Government Accountability Office released a highly anticipated report on the Consumer Financial Protection Bureau’s data gathering efforts. According to the report, the CFPB undertook 12 large-scale data collections since January 2012 spanning products including mortgages, student loans and credit cards. Although the CFPB has taken steps to secure these data collections, additional efforts are needed to reduce the risk of improper collection, use or release of consumer financial data, the GAO determined.
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