03/12/2014 04:55 pm ET Updated Mar 13, 2014

This GOP Rep May Have Spoken Too Soon On Credit Card Fraud

Two months after 70 million Americans were hit by a Target data breach, one member of Congress is grappling with his own credit card issue.

Last week, Rep. Robert Pittenger (R-N.C.) revealed during a Financial Services Committee hearing that he and his wife were hit with $4000 in fraudulent credit card charges.

“We have to remain vigilant in our fight against these individuals and organizations," Pittenger said. "The consequences of not being equipped for a threat could ruin the lives and threaten the security of millions of Americans.”

Pittenger's admission came days after he panned the Consumer Financial Protection Bureau -- the agency in charge of regulating these types of breaches. In a March 3 interview with Fox Business, Pittenger botched the agency's name in the process, saying the "Consumer Protection Financial Bureau" is "anything but a protection bureau.

"They hold all your financial information and they have full discretion over it," Pittenger said. "They know where you shop. They know what you're spending. They know your financial bank accounts. They have total knowledge of everything."

HuffPost Live's Bank Dorks break down the role the CFPB plays in protecting fraud victims, and one move Pittenger could have made after the big Target breach. Watch the clip above.



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