It’s interesting to compare the scrutiny that the CFPB receives in collecting non-personal information from financial institutions with the lack of scrutiny national security agencies receive collecting personal information. Of course, one stakeholder has a well-funded dedicated advocacy organization. The other does not.
The Consumer Financial Protection Bureau is making an end-run around existing regulations to collect new data on overdraft programs, the American Bankers Association claims.
Source: Bankers Cry Foul Over CFPB Overdraft Data Collection | American Banker