Sen. Elizabeth Warren (D-Mass.) is concerned about Mick Mulvaney’s decision to freeze the collection of consumer data at the Consumer Financial Protection Bureau, HousingWire.com reported. According to a letter from Warren sent to Mulvaney last week, Mulvaney on Dec. 4 halted the collection of all personal information by the CFPB, citing information security concerns. Warren’s letter states that Mulvaney made the move in response to a report from the CFPB inspector general, but Warren states that Mulvaney’s response went too far and is impacting the bureau’s ability to regulate the companies it oversees. According to Warren, the CFPB “cannot fulfill its core functions” without collecting personal information from consumers. According to Warren, CFPB bank examiners “regularly” use account-level data to detect improper and unlawful activity.
