CFPB's data-mining on consumer credit cards challenged in heated House hearing
Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year — up to 42 billion transactions – through a controversial data-mining program, according to documents obtained by the Washington Examiner.
A CFPB strategic planning document for fiscal years 2013-17 describes the “markets monitoring” program through which officials aim to monitor 80 percent of all credit card transactions in 2013.
The U.S. Census Bureau reports that 1.16 billion consumer credit cards were in use in 2012 for an estimated 52.6 billion transactions. If CFPB officials reach their stated "performance goal," they would collect data on 42 billion transactions made with 933 million credit cards used by American consumers.
In addition, CFPB officials hope to monitor up to 95 percent of all mortgage transactions, according to the planning document.
It seems like since the internet has become so prevalent in America, so has information and truth the people have never experienced before. They've become inundated with bullshit and it is tough to be outraged anymore. A desensitization to corruption. It is now commonplace in their lives.
I think eventually something is going to set off the nation and all the pent up rage is going to explode in the governments faces.
billid - It seems like since the internet has become so prevalent in America, so has information and truth the people have never experienced before. They've become inundated with bullshit and it is tough to be outraged anymore. A desensitization to corruption. It is now commonplace in their lives.
I think eventually something is going to set off the nation and all the pent up rage is going to explode in the governments faces.
yep good observation on the power of information (internet).
I hope you are right about some sort of mass awakening. It is the only hope that the US has to restore its past glory and prosperity.
billid - It seems like since the internet has become so prevalent in America, so has information and truth the people have never experienced before. They've become inundated with bullshit and it is tough to be outraged anymore. A desensitization to corruption. It is now commonplace in their lives.
I think eventually something is going to set off the nation and all the pent up rage is going to explode in the governments faces.
Will never happen. Everyone will continue to do nothing, except possibly call other people "sheep" on internet message boards. Not that I blame anyone for doing nothing. What is there to do?
So now the gov't knows I bought a bathmate to try and make my cack a little sturdier. As long as they don't tell my girlfriend...
