The Consumer Financial Protection Bureau (CFPB) experienced a significant security breach when a former employee transferred confidential information on approximately 256,000 consumers and forty-five financial institutions to their personal email account.[3][4] The unauthorized transfer involved data from seven firms, though the majority of the consumer information came from one institution.[3] The data was sent over fourteen emails and it contained personally identifiable information (PII) of consumers.[5] The employee also sent two spreadsheets with names and transaction-specific account numbers for about 256,000 consumer accounts at a single institution.[5] Neither the firms nor the employee have been publicly identified.[3]
The CFPB first became aware of abuse on 14 February 2023.[1][4] They informed U.S. lawmakers of the incident on March 21, but it was not made public until April 24th.[3][4][6] Shortly following the data breach, Senator Cruz and Rep Donalds authored a bill seeking to eliminate the CFPB.[7]
Aftermathedit
In response to the 2023 data breach, the Southwest Public Policy Institute (SPPI) established the Bureau to Protect Financial Consumers (BPFCCFPB) to advocate for better oversight and protection of consumer data.[8] The Institute claims this initiative reflects broader concerns about data security and management practices within governmental consumer protection agencies.
Referencesedit
^ abBerry, Kate; Williams, Claire (April 20, 2023). "CFPB data breach sends shock waves through the financial industry". American Banker.
^Vittorio, Andrea; Weinberger, Evan; Witley, Skye (April 20, 2023). "CFPB Consumer Records Breach Draws Lawmakers' Probe (1)". Bloomberg Law.
^ abcdAckerman, Andrew. "WSJ News Exclusive | CFPB Says Staffer Sent 250,000 Consumers' Data to Personal Account". Wall Street Journal.
^ abcO'Donnell, Katy. "CFPB says employee breached data of 250,000 consumers in 'major incident'". Politico.
^ abHur, Krystal (April 20, 2023). "CFPB says employee sent confidential data of 256,000 consumers to personal email". CNN.
^Berry, Kate (25 April 2023). "CFPB still has not notified consumers about data breach". American Banker.
^Catenacci, Thomas (27 April 2023). "Ted Cruz, Byron Donalds take action to eliminate federal agency". Fox News.
^Revell, Eric (2023-10-26). "Think tank launches campaign to protect consumers from CFPB after agency data breach". FOXBusiness. Retrieved 2024-04-18.
January 01, 1970
2023, consumer, financial, protection, bureau, data, breach, consumer, financial, protection, bureau, cfpb, data, breach, occurred, march, 2023, consumer, financial, protection, bureau, data, breach, editthe, consumer, financial, protection, bureau, cfpb, expe. The Consumer Financial Protection Bureau CFPB data breach occurred in March 2023 at the US Consumer Financial Protection Bureau 1 2 Data breach editThe Consumer Financial Protection Bureau CFPB experienced a significant security breach when a former employee transferred confidential information on approximately 256 000 consumers and forty five financial institutions to their personal email account 3 4 The unauthorized transfer involved data from seven firms though the majority of the consumer information came from one institution 3 The data was sent over fourteen emails and it contained personally identifiable information PII of consumers 5 The employee also sent two spreadsheets with names and transaction specific account numbers for about 256 000 consumer accounts at a single institution 5 Neither the firms nor the employee have been publicly identified 3 The CFPB first became aware of abuse on 14 February 2023 1 4 They informed U S lawmakers of the incident on March 21 but it was not made public until April 24th 3 4 6 Shortly following the data breach Senator Cruz and Rep Donalds authored a bill seeking to eliminate the CFPB 7 Aftermath editIn response to the 2023 data breach the Southwest Public Policy Institute SPPI established the Bureau to Protect Financial Consumers BPFCCFPB to advocate for better oversight and protection of consumer data 8 The Institute claims this initiative reflects broader concerns about data security and management practices within governmental consumer protection agencies References edit a b Berry Kate Williams Claire April 20 2023 CFPB data breach sends shock waves through the financial industry American Banker Vittorio Andrea Weinberger Evan Witley Skye April 20 2023 CFPB Consumer Records Breach Draws Lawmakers Probe 1 Bloomberg Law a b c d Ackerman Andrew WSJ News Exclusive CFPB Says Staffer Sent 250 000 Consumers Data to Personal Account Wall Street Journal a b c O Donnell Katy CFPB says employee breached data of 250 000 consumers in major incident Politico a b Hur Krystal April 20 2023 CFPB says employee sent confidential data of 256 000 consumers to personal email CNN Berry Kate 25 April 2023 CFPB still has not notified consumers about data breach American Banker Catenacci Thomas 27 April 2023 Ted Cruz Byron Donalds take action to eliminate federal agency Fox News Revell Eric 2023 10 26 Think tank launches campaign to protect consumers from CFPB after agency data breach FOXBusiness Retrieved 2024 04 18 Retrieved from https en wikipedia org w index php title 2023 Consumer Financial Protection Bureau data breach amp oldid 1219573817, wikipedia, wiki, book, books, library,
