“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.  In addition, CFPB officials hope to monitor up to 95 percent of all mortgage transactions, according to the planning document.  CFPB Director Richard Cordray defended the data-mining practice and said his agency is monitoring credit card usage at 110 banks, including Morgan Chase, Bank of America, Capital One, Discover and American Express.”

http://m.washingtonexaminer.com/cfpbs-data-mining-on-consumer-credit-cards-challenged-in-heated-house-hearing/article/2535726

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