The CFPB recently sent a 49-page document on its data collection activities to the House Financial Services Committee in response to outstanding questions originally posed to Deputy Director Steve Antonakes during his July 9 appearance. In its response, the bureau rebutted claims that it is building a database containing personal data or profiles of individuals, adding that it “does not monitor the accounts of particular consumers and does not track the financial habits or activities of any individual consumer.” The report also includes factual disclosures, among them that the CFPB contracts with 11 companies for the purchase, collection, analysis and storage of data, and a listing of the contractual areas under which third-party vendors may collect personally identifiable information “as a component of [the CFPB] carrying out [its] work.” The CFPB also disclosed that the cost to date of its contracts to obtain data for FY 2013 is $6,061,900 and was $7,129,460 for FY 2012.

The CFPB’s data collection activities have been scrutinized by Congress, the Government Accountability Office and the U.S. Chamber of Commerce over the past few months. More information may be found here.