Last week, the Consumer Financial Protection Bureau (CFPB) released a study comparing credit scores sold to creditors and those sold to consumers. The study found that approximately 1 in 5 consumers would, upon purchasing their credit score from a consumer reporting agency, receive a different credit score than the score provided to creditors for use
Dodd-Frank
The Office of Financial Research and Legal Entity Identifiers
By Mike Nonaka on
As covered in our earlier blog post, the Dodd-Frank Wall Street Reform and Consumer Protection Act establishes the Office of Financial Research (OFR) to collect and analyze U.S. financial data for financial regulators. The OFR is tasked with, among other responsibilities, supporting the Financial Stability Oversight Council’s oversight of systemic risk, developing tools for…
Congressional Hearing Panelists Discuss Financial Privacy Implications of the Newly Established Office of Financial Research
By Mike Nonaka on
Yesterday, a subcommittee of the House Financial Services Committee held a hearing to discuss cybersecurity and security threats to the financial sector. The panelists included officials from the Secret Service, Federal Bureau of Investigation, and Department of Homeland Security, as well as representatives from Verizon, Symantec, Bank of America, and public interest organizations. The panelists…