Former CFPB Employee Steals Data on 256,000 Customers

A former Consumer Financial Protection Bureau (CFPB) employee has stolen information from around 256,000 individuals, according to multiple reports.

WSJ.com states that the information included “confidential supervisory” data from 45 different institutions. Most of the information was said to be from a single unnamed institution.

Oddly, the breach occurred before March 21st, when the CFPB reported it to Congress but failed to make a public announcement in a profound lack of transparency by the agency.

Congressman Patrick McHenry, Chairman of the House Financial Services Committee, stated:

“This breach raises concerns with how the CFPB safeguards consumers’ personally identifiable information.”

Senator Sherrod Brown, a Democrat who chairs the Senate Banking Committee defended the CFPB claiming the agency “followed protocols” adding that it would be “irresponsible to speculate or jump to conclusions.”

The CFPB has garnered controversy in the past. A creation of Dodd-Frank legislation, the first Director sought to ignore the appointment of a new Director during the Trump Administration.

According to the Hill, the theft has been referred to the Office of the Inspector General. It was not immediately clear if criminal charges would be forthcoming.

 



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