CFPB Resumes Consumer Data Collection

Jun 01, 2018

The Consumer Financial Protection Bureau (CFPB) is resuming its collection of consumer data used in fraud investigations after a nearly six-month suspension.

Acting CFPB Director Mick Mulvaney suspended the data collection after taking the leadership of the agency in late November, citing cybersecurity concerns. In a Reuters report based on an internal CFPB memo, Mulvaney said the data collection could resume because internal tests reaffirmed proper cybersecurity protections were in place.

“This process has been an important exercise in holding ourselves to the same high standards to which we hold the entities we oversee,” Mulvaney wrote to his staff.

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Phil Hall

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Jun 01, 2018

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