Commentary: CFPB's practices on data collection threaten privacy

07/4/2013 | Investor's Business Daily

The Consumer Financial Protection Bureau is assuring Congress that it's protecting consumers in its data-collection efforts, but the agency's practice of grouping financial accounts according to name and other personal identifiers suggests otherwise, Paul Sperry writes. Banks that provide the information are concerned about being blamed for breaches. "In effect, banks are supplying detailed stats that could be used against them," he writes.

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