CFPB violates 4th Amendment with database spying on your personal information

Hog Island Plant by W. A. Rogers

Statement on federal folly, with a man showing Uncle Sam an unfinished building in the shape of a hog labeled ‘Estimated cost (subject to additions) $40,000,000, Hog Island Plant.’ From the U.S. Library of Congress Digital Collection; W. A. Rogers; circa 1918.

President Barack Obama has had some extremely bad ideas. Two of them contain the word “protection” in their titles. One, the Patient Protection and Affordable Care Act, is a tax boondoggle that will cost middle class Americans dearly.

The other, the Consumer Financial Protection Bureau, is not only a duplicative agency, it is not answerable to Congress. 

The Wall Street Journal ran an editorial by Sen. Richard Shelby about the CFPB in 2011. The Alabama Republican wrote:

“In its current form, the bureau is headed by a single director. Over a five-year term, the director will have unfettered authority over thousands of American businesses, not just banks. While the bureau receives hundreds of millions of dollars of public money annually, the elected representatives of the American people have no say in how it spends this money. Moreover, other regulators have no meaningful ability to prevent bureau mandates that may threaten the financial health of banks. This is dangerous because American businesses depend on banks, large and small, for funding to grow and to create jobs.”

The bureau is tucked tidily inside the monster otherwise known as the Federal Reserve.

Now this bureau, not answerable to anyone really, will insert itself into the financial records of millions of Americans. The Washington Examiner explained:

“As many as 227 million Americans may be compelled to disclose intimate details of their families and financial lives — including their Social Security numbers — in a new national database…”

Obama came up with the idea to establish this bureau after the federal government and progressive activists forced banks into risky lending practices as a means of achieving social justice.

Risky loans got bundled up with others and were sold as derivatives. A lot of people made a lot of money, especially Dem cronies who later served in the Obama administration. Meanwhile, former Sen. Chris Dodd (D-Conn.) slipped an amendment into a Clinton-era bill that put taxpayers on the hook for those risky derivatives. By 2008, Dems blamed President George W. Bush for the financial meltdown their party policies created. Media were only too happy to carry the donkey’s water.

That this president created an entity like the CFPB—more a model for China or even Russia than for the U.S.—should have outraged both right and left.

If someone with access to the new database wants to target you, info will be a keystroke away:

“[T]he database expansion means it will include a host of data points, including a mortgage owner’s name, address, Social Security number, all credit card and other loan information and account balances.

The database will also encompass a mortgage holder’s entire credit history, including delinquent payments, late payments, minimum payments, high account balances and credit scores, according to the notice.

The two agencies will also assemble ‘household demographic data,’ including racial and ethnic data, gender, marital status, religion, education, employment history, military status, household composition, the number of wage earners and a family’s total wealth and assets.”

Remember how legacy media faked you out on the CFPB, claiming personal information wouldn’t be taken—only general info?

Thomas Bezas, writing for The Hill, said, “We cannot allow the government to regulate consumer behavior as a way of regulating an industry’s behavior. It is time for consumers, businesses, and anyone who values the American free-market economy to demand refuge from damaging intervention in the name of consumer protection that is being perverted into a powerful weapon.”

The Obama administration has set a world record for trampling the Bill of Rights. The CFPB’s data mining of such deeply personal information doesn’t just represent a serious security risk.

This spying represents an illicit violation of the Fourth Amendment to the U.S. Constitution. The federal government does not have the legal right to mine law-abiding citizens’ personal information in this manner. It really is just that simple.

Take a look at the CFPB’s organizational chart. Just imagine the havoc all those bureaucrats are going to wreak on an economy this administration seems determined to tank, and that would include your personal economy.

Finally, consider the risk of identity theft. There’ll be no bailout for you when this database is breached.

Photo: Statement on federal folly, with a man showing Uncle Sam an unfinished building in the shape of a hog labeled ‘Estimated cost (subject to additions) $40,000,000, Hog Island Plant.’ From the U.S. Library of Congress Digital Collection; W. A. Rogers; circa 1918.

(Op-Ed/Kay B. Day/May 30, 2014)

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About Kay Day

Kay B. Day is a freelance writer who has published in national and international magazines and websites. The author of 3 books, her work is anthologized in textbooks and collections. She has won awards for poetry, nonfiction and fiction. Day is a member of the American Society of Journalists and Authors and the Authors Guild.
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