Dodd-Frank Spies on You, Too

Say hello to Big Brother. . . Again. As if the information collected through the NSA, IRS, and FBI weren’t enough, the newly formed Consumer Financial Protection Bureau (does that Orwellian named entity not give you the full body shivers?) has decided that government does not have a stranglehold on the spending habits of enough Americans. As a result, the Bureau, which was created as part of Dodd-Frank, is planning on monitoring up to 80 percent of all debit and credit card purchases – roughly 42 billion transactions. (Ironically, the agency has not released how much this data mining program is expected to cost us taxpayers.)
According to the Washington Examiner, “if CFPB officials reach their stated ‘performance goal,’ they would collect data on 42 billion transactions made with 933 million credit cards used by American consumers.” The agency has not spelled out in any detail why they feel such a massive data mining operation is needed. . . But I’m sure that just like the NSA domestic spying program and the TSA’s body scanners, it is for our own good.

http://finance.townhall.com/columnists/michaelschaus/2013/09/16/doddfrank-goes-all-nsa-on-american-consumers-n1700921