This Won’t Get Abused — Right?


My Ghod, the stupid burns!

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 Federal Housing Finance Agency and 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.

There’s never going to be a federal agency that abuses this data, right?  Like, oh, the IRS?

Or the FBI?

Or…… any other politically-motivated agency?

Oh, and guess what — since this is part of FHFA and CFPB if you have a mortgage there will be no way out of being listed in it either.

Wanna finance a house?  Why sign right here Mr. and Mrs. American, disclosing your credit details, including what you spend and where, to the Federal Government on an ongoing and permanent basis, with your name and social security number attached.

Oh, and for good measure we know that this database will never, ever be hacked into either — right?


The Market Ticker

Go to responses (registration required to post)