U.S. Senator Mike Crapo (R-Idaho), Ranking Member of the Senate Banking, Housing and Urban Affairs Committee, requested that the Government Accountability Office (GAO) investigate the “big data” collection effort being undertaken by the Consumer Financial Protection Bureau (CFPB) on consumer spending habits. Senator Crapo wrote: "The size and scope of CFPB’s data collection warrant proper government oversight to both guard consumers’ privacy and ensure that the CFPB is acting within its existing authority." Senator Crapo attached to the letter a non-exclusive list of specific issues for GAO to consider.
Read the letter.