Senator Markey Pens Letter to CFPB on Protecting Consumer Data

Posted October 18, 2017

On Oct. 16, 2017, Sen. Markey (D-Mass.) wrote a letter to the Consumer Financial Protection Bureau to weigh the data security of third-party aggregators allowing consumers to access their financial data. Under a section of the Dodd-Frank law, the CFPB has a mandate to ensure consumer access to financial data. Markey asked the CFPB to consider the security of consumer records when enforcing that mandate. In the letter, Markey stated "The CFPB ought to encourage such solutions which empower the consumer by allowing easy access to innovative third party services while still promoting the safety of consumer data." Markey reiterated that security and transparency must remain priorities for CFPB.
 

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