GAO To Review CFPB’s Data Collection Practices

The U.S. Government Accountability Office (GAO) agreed to review the data collection practices of the Consumer Financial Protection Bureau (CFPB) on July 18, American Banker reported. 

Senator Mike Crapo, a Republican from Idaho, submitted the request on July 2.

Republican legislators had been calling for an investigation into the agency’s data collection practices for some time due to reports regarding how the CFPB gathers financial data from U.S. consumers.

For more on the CFPB’s data collection practices, read our full report here.