Audit: CFPB needs to take steps to reduce the risk of improper collection, use and release of consumer financial data. Audit finds agency has yet to fully implement a number of privacy controls and information security practices. GAO credits CFP for instituting programs to protect and secure its collection of data. Director Richard Cordray says agency will consult with OMB regarding credit card information it collects with the Office of the Comptroller of the Currency. OCC recently conducted its own review of credit card, home equity line line programs and discovered it was collecting data from 171 institutions.”]
Source: https://www.cuinfosecurity.com/consumer-agency-needs-privacy-catch-up-a-7353