![]() The Bureau even teamed up with the Federal Housing Finance Agency to create and maintain a national mortgage database containing borrowers’ social security numbers and personalized information about religion, education and military records, languages spoken, age of children at home and major life events. Since its creation, the Consumer Financial Protection Bureau has collected information on millions of consumers on products ranging from automobile sales, consumer credit reports, credit cards, credit scores, payday loans, mortgages, student loans and overdraft fees. ![]() Ironically, an agency that Congress created to protect consumers has been collecting an unprecedented amount of personal information about the very consumers it was tasked with protecting. What is new is the vast amount of data that the government is collecting about us, and the ease with which it is doing so. Future Supreme Court Justice Louis Brandeis and Samuel Warren’s seminal 1890 article, The Right to Privacy, attempted to address invasion of privacy posed by the emerging media of the day. We ought to pause and ask what the appropriate place for the government is in this brave new “big data” world.Ĭoncerns about privacy and protection of personal information are not new in our society. ![]() When our government is doing the collecting, those concerns intensify. While consumers voluntarily give away personal information to various websites in exchange for their services, more worrisome is the collection of personal information without our knowledge or consent. Not a day goes by without news reports on how large corporate entities and the government are collecting ever-increasing amounts of personal information about us.
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