Not to mention "collection" seems to be used to describe the act of an analyst using the data, not storing it for future use[1]. I interpreted this quote as, "We are not currently using geolocation data, just storing it for future use".

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[1] Based off Clapper's explanation, "To me, collection of a U.S. person's data would mean taking the books off the shelf, opening it up and reading it"[2]

[2] http://abcnews.go.com/Politics/intel-dir-james-clapper-lie-c... (couldn't find a better source).