GAO Answers Republicans Request, Will Examine CFPB's Data Collection

The U.S. Government Accountability Office has agreed to Sen. Mike Crapo's July 2 congressional request to examine the data collection efforts at the Consumer Financial Protection Bureau.
 
Crapo, the top Republican on the Senate Banking Committee, has also recently asked the GAO to investigate the Financial Stability Oversight Council's process for designating systemically important institutions.
 
Republicans have repeatedly asked for an examination of how the CFPB, created under the 2010 Dodd-Frank Act, gathers data. The CFPB defends the data they collect and the firms that assist with gathering.
 
"You want us to do careful, cost-benefit analysis. We can't do that without good data," said CFPB Director Richard Cordray during a Senate Banking Committee hearing in April.
 
For the full piece see "GAO to Investigate CFPB's Data Gathering" (may require subscription).