Saturday, May 25, 2024

US Financial Agency, To Collect Discriminatory Information From Loan Seekers.

The Consumer Financial Protection Bureau an agency of the American government, set up to implement and enforce Federal consumer financial laws and ensure that markets for consumer financial products are fair, transparent, and competitive, is now gathering none financial, intrusive data of their customers.

The CFPB which has primary authority to enforce federal consumer financial laws for banks and other depository institutions with total assets of more than $10 billion, and their affiliates have added criteria such as nationality, race, ethnicity and sexual orientation to information needed for small and medium business owners to access loan facilities for their businesses.

Read Also: US Freeze Assets Of Suspected Isis Financial Enablers

US Senator Kennedy of Louisiana queried CFPB director Rohit Chopra on why the CFPB needs to know what they are asking, but Chopras reply was simply that the information would not contain names and was therefore anonymous.

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