Date: June 19, 2013
To: Consumer Financial Protection Bureau
Filing Type: Regulatory
Description: CCMC sent a letter to the Consumer Financial Protection Bureau (CFPB) outlining concerns with the CFPB’s practices around data collection. Despite numerous attempts from the Chamber and U.S. Congress, the CFPB’s lack of transparency around its data collection efforts makes it difficult to evaluate the prudence and the legality of the collection process; the strength of the security measures to protect consumers’ data; the cost burden imposed on, and potential liability exposure incurred by companies subject to the CFPB’s requests; and leaves many other concerns.