U.S. Chamber of Commerce Faults CFPB Data Collection
July 1, 2013
The U.S. Chamber of Commerce wrote CFPB Director Richard Cordray to take issue with the bureaus increasing number of requests that companies provide huge quantities of data about individual consumers financial transactions on an ongoing, real-time basis. We agree with you that data are important in determining whether there is a sound basis for regulation and how regulation should be structured, and recognize that Congress conferred specific authority on the bureau to collect data to inform the bureaus use of its regulatory...