Direct from David: Protecting Your Wallet
Whether you braved the stores on Black Friday or found bargains online during Cyber Monday, you most likely used your credit card to make a purchase.
With each purchase, the Consumer Financial Protection Bureau (CFPB) is collecting your personal information and monitoring your spending habits.
Every month, the CFPB collects information on 27-75 million credit card accounts. They also collect data on car loans, mortgages, bank account information, and student loans.
It is unclear what the agency is doing with all of this personal information because there is little oversight.
Earlier this year, I introduced legislation to charge Congress with conducting oversight of their data-collecting activities.
Americans already have plenty of big government agencies trying to regulate, tax, and monitor our every move. We don't need another one without accountability.
Read more about why the CFPB needs Congressional oversight by clicking here.
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