Jeff just told us that House Republicans won't let CFPB head Richard Corday testify before them because, they say, he's not the lawful head of the agency. He did testify today before the Banking Committee of the Democratic-controlled Senate. But there, Republicans went after him for gathering supposedly private data, which Corday says (reasonably, it seems) his agency needs to formulate agency policy. Read about it here. Here's an excerpt:
Consumer Financial Protection Bureau head Richard Cordray defended
his agency's plan to collect financial data on 10 million consumers as
necessary and appropriate in testimony today before the U.S. Senate
Committee on Banking, Housing and Urban Affairs. The data, which include information on consumers' credit card use,
mortgage payments and other financial transactions, "is widely
available, widely used" and anonymous, Cordray said. "The notion that we
are tracking individual consumers or somehow invading their privacy is
quite wrong." He stressed that the agency needs the information to
understand market trends and write reports to Congress.
0 thoughts on “Senate Republicans attack Richard Cordray for supposedly collecting consumers’ private data”
Please, stop this endless and futile political bickering.
The constitution allows a public reference and ratification of office in the form of a REFERENDUM.
Once this is done and the American citizens have ratified Mr. Cordray’s position as head of the CFPB, the Republicans can either cease or desist. They are supposed to be our “representatives” and they should remember it.