Obama to scan 42 Billion credit card transactions

"I'm shocked, shocked to find that data-mining is going on in here."

The Rape of the Bill of Rights

• Without a search warrant our neo-Fascist government wants to scan, catalog and store your most private financial data for future use.  The Constitution has absolutely no meaning to the thugs running the government. 

Comrade Obama's Consumer Financial Protection Bureau officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year — up to 42 billion transactions – through a controversial data-mining program, according to documents obtained by the Washington Examiner.

A CFPB strategic planning document for fiscal years 2013-17 describes the “markets monitoring” program through which officials aim to monitor 80 percent of all credit card transactions in 2013.

The U.S. Census Bureau reports that 1.16 billion consumer credit cards were in use in 2012 for an estimated 52.6 billion transactions. If CFPB officials reach their stated "performance goal," they would collect data on 42 billion transactions made with 933 million credit cards used by American consumers reports the Washington Examiner.

In addition, CFPB officials hope to monitor up to 95 percent of all mortgage transactions, according to the planning document.

“This is one step closer to a Big Brother form of government where they know everything about us,” said Rep. Sean Duffy, R-Wis.

At a Wednesday hearing before the House Financial Services Committee chaired by Rep. Jeb Hensarling, R-Texas, CFPB Director Richard Cordray defended the data-mining practice and said his agency is monitoring credit card usage at 110 banks, including Morgan Chase, Bank of America, Capital One, Discover and American Express.

NSA Whistleblower

Everyone in US under virtual surveillance, all info stored

 

We are watching you in Utah.

1984 is Here  -  Democrats & GOP are building a 1,000,000 sq. foot data-mining facility in Utah to spy on everyone.
Labels such as "Liberal" or "Conservative" have no meaning.  Both parties in Congress eagerly work together to build, grow and fund the unconstitutional Big Brother Police State.
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See more at the UK Daily Mail.