The part about the CFPB is the next unknown hammer to drop. Consumers assume the CFPB is on their side. The truth is far murkier. For instance, the CFPB has req

The part about the CFPB is the next unknown hammer to drop. Consumers assume the CFPB is on their side. The truth is far murkier. For instance, the CFPB has requested and was granted detailed financial transaction information on at least 10 million Americans. Of course, they are claiming that "personally identifiable" is "extremely limited", but like the phone meta-data issue, it is clear detailed spending habits could be associated with certain individuals. At least they promise to destroy the data after holding it for 10 years... Source: http://blogs.marketwatch.com/capitolreport/2013/07/09/cfpb-criticized-during-data-collection-hearing/ http://blogs.marketwatch.com/capitolreport/2013/07/09/cfpb-c...