Skip Navigation

Close and don't show again.

Your browser is out of date.

You may not get the full experience here on National Journal.

Please upgrade your browser to any of the following supported browsers:

CFPB Director: Yes, We Have Data. No, We're Not the NSA. CFPB Director: Yes, We Have Data. No, We're Not the NSA.

This ad will end in seconds
 
Close X

Not a member? Learn More »

Forget Your Password?

Don't have an account? Register »

Reveal Navigation
 

 

Tech

CFPB Director: Yes, We Have Data. No, We're Not the NSA.

"You are giving me quotes about the NSA, which is not us and not what we are doing," Richard Cordray tells a House committee.

photo of Dustin Volz
January 28, 2014

CFPB Director: Yes, We Have Data. No, We're Not the NSA.

The Consumer Financial Protection Bureau and National Security Agency both collect data. They are both federal agencies. So does that make them the same thing?

At least one House member seems to think so.

 

Consumer Financial Protection Bureau chief Richard Cordray appeared before the House Financial Services Committee on Tuesday to deliver a semiannual report on the work of his agency. His opening testimony covered implementation of the Dodd-Frank Act and efforts to improve consumers' financial literacy.

But Rep. Randy Neugebauer wasn't interested in any of that. The Texas Republican wanted to know whether the data the bureau was collecting about consumers was safe and not jeopardizing the privacy of everyday Americans. "You are collecting a lot of data and you are doing the best you can," he offered.

Neugebauer then began quoting at length from President Obama's Jan. 17 policy speech that outlined some reforms to the NSA before he launched into a quixotic series of questions.

"You are saying that you are not [abusing the data you collect], but the president says we cannot always take that at face value," Neugebauer said. "Can this data be reverse engineered?"

Cordray, the agency's first director, responded: "You are giving me quotes about the NSA, which is not us and not what we are doing."

But Neugebauer was undeterred. "You are in a contest [with the NSA] of who can collect the most information."

Cordray, a bit agitated, shot back: "I fundamentally reject the categorization. In terms of what we are doing, we are making every effort to be very careful in satisfying the federal law in terms of security and privacy and in terms of treating consumers properly."

Neugebauer proceeded to ask some variation of "can your data be reverse engineered?" another three times until his time expired.

LIKE THIS STORY? Sign up for Tech Edge

Sign up for our daily newsletter and stay on top of tech coverage.

Sign up form for Tech Edge
Job Board
Search Jobs
Digital and Content Manager, E4C
American Society of Civil Engineers | New York, NY
PRODUCT REVIEW ENGINEER
American Society of Civil Engineers | CA
Neighborhood Traffic Safety Services Intern
American Society of Civil Engineers | Bellevue, WA
United Technologies Research Fellow
American Society of Civil Engineers | New York, NY
Process Engineering Co-op
American Society of Civil Engineers | Conshohocken, PA
Electrical Engineer Co-op
American Society of Civil Engineers | Findlay, OH
Application Engineer/Developer INTERN - Complex Fluids
American Society of Civil Engineers | Brisbane, CA
Application Engineer - Internships CAE/CFD Metro Detroit
American Society of Civil Engineers | Livonia, MI
Chief Geoscientist
American Society of Civil Engineers
Application Engineer - Internships CAE/CFD Metro Boston
American Society of Civil Engineers | Burlington, MA
Professional Development Program Engineer
American Society of Civil Engineers | Farmington Hills, MI
Civil Enginering Intern - Water/Wastewater/Site-Development
American Society of Civil Engineers | Sacramento, CA
Staff Accountant
American Society of Civil Engineers | Englewood, CO
Biomedical Service Internship Position
American Society of Civil Engineers | Flint, MI
 
Comments
comments powered by Disqus