From: Watchdog.org
By M.D. Kittle
While the domestic spying National Security Agency has been under the red-hot political spot light, another quasi-governmental agency has quietly gone about the business of collecting nearly 1 billion U.S. credit card records without consumer consent.
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The record shows the NFPB [sic] has collected data from more than 85 percent of all credit cards issued in the United States.
From: RegBlog | Penn Program on Regulation
America’s financial regulatory system developed piecemeal. Beginning just after the Civil War, Congress has added and subtracted agencies and departments in response to new crises and economic developments. A patchwork of regulatory oversight exists today; about a dozen regulatory bodies oversee U.S. markets through a fragmented regulatory system—one that also includes many non-governmental and international organizations that influence industry standards.