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New Federal Database Will Track Americans' Credit Ratings, Other Financial Info
schwit1 (797399) writes "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 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. The 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 for Congress."
I believe there were changes made in the 90s that mandated banks give out more loans
have you seen my sig? there are many others like it but none that are the same
No, actually it doesn't.
There's a whole section of the Constitution concerning Congressional Powers (and another for Executive Powers).
And then there's the "if we didn't mention it, it's a prerogative of the States of the People" part (10th Amendment.)
"I do not agree with what you say, but I will defend to the death your right to say it"