The Consumer Financial Protection Bureau’s (CFPB) financial data...
The Consumer Financial Protection Bureau’s (CFPB) financial data collection practices are consistent with the Federal Information Security Management Act, but the agency could implement increased documentation and additional measures to reduce the risk of improper data collection or release, the…
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GAO said in a report released Monday (http://1.usa.gov/1B28Wo9). “CFPB lacks written procedures and comprehensive documentation for a number of processes, including data intake and information security risk assessments,” the GAO said. “CFPB has not yet fully implemented a number of privacy control steps and information security practices, which could hamper the agency’s ability to identify and monitor privacy risks and protect consumer financial data.” The CFPB concurred with GAO’s recommendations and has an outline in place to comply with its recommendations, the GAO said.