The American Bankers Association (ABA) blasted the Consumer Financial Protection Bureau for a system they say lacks transparency in data collected from consumers. Law360 tells MHProNews that the CFPB also fails to sate how it plans to use the data to shape their policies. This comes on the heals of Senate Republicans concerns about the CFPB’s data gathering. The ABA alleged the CFPB’s request for a “generic clearance” new surveys of potentially sensitive consumer information. ##

(Image credit: ABA Logo)