Federal Citizen Database Program Will Target 227 Million Americans

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...
nsa-security-operations-center-national-federal-database-program
FHFA will manage the database and share it with CFPB. A CFPB internal planning document for 2013-17 describes the bureau as monitoring 95 percent of all mortgage transactions.
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The closing door of freedom

Washington Examiner – 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 being assembled by two federal agencies.

The Federal Housing Finance Agency and the Consumer Financial Protection Bureau posted an April 16 Federal Register notice of an expansion of their joint National Mortgage Database Program to include personally identifiable information that reveals actual users, a reversal of previously stated policy.

nsa-security-operations-center-national-federal-database-program

FHFA will manage the database and share it with CFPB. A CFPB internal planning document for 2013-17 describes the bureau as monitoring 95 percent of all mortgage transactions.

FHFA officials claim the database is essential to conducting a monthly mortgage survey required by the Housing and Economic Recovery Act of 2008 and to help it prepare an annual report forCongress.

Critics, however, question the need for such a “vast database” for simple reporting purposes.

In a May 15 letter to FHFA Director Mel Watt and CFPB Director Richard Cordray, Rep. Jeb Hensarling, R-Texas, and Sen. Mike Crapo, R-Idaho, charged, “this expansion represents an unwarranted intrusion into the private lives of ordinary Americans.”

Crapo is the ranking Republican on the Senate Banking, Housing and Urban Affairs Committee. Hensarling is chairman of the House Financial Services Committee.

Critics also warn the new database will be vulnerable to cyber attacks that could put private information about millions of consumers at risk. They also question the agency’s authority to collect such information. source – Washington Examiner

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