July 17, 2013
The Consumer Financial Protection Bureau (CFPB) is looking to create a “Google Earth” of every financial transaction of every American, Sen. Mike Enzi (R-WY) warned today in a Senate speech opposing confirmation of Richard Cordray as CFPB director.
“This bill (creating the CFPB) was supposed to be about regulating Wall Street. Instead, it’s creating a Google Earth on every financial transaction. That’s right: the government will be able to see every detail of your finances. Your permission – not needed,” Sen. Enzi said.
“They can look right down to the tiny details of the time and place where you pulled cash out of an ATM,” Enzi warned.