While the domestic spying National Security Agency has been under the red-hot political spot light, another quasi-governmental agency has quietly gone about the business of collecting nearly 1 billion U.S. credit card records without consumer consent.

The Consumer Financial Protection Bureau, CFPB, unlike the NSA, operates with no congressional oversight and with little public transparency, even as it demands complete transparency from the businesses it targets.

As Brian Wise puts it, the rogue agency created under the Obama administration to protect consumers now serves as “judge, jury, and executioner” in determining winners and losers in U.S. business and consumption.

(Does the CFPB know too much?)

Source:By M.D. Kittle | Watchdog.org