Yes and rightly so.
1) Heart rate monitors come in versions that can record data, and version that do not record data.
2) It is an excellent tool for endurance based exercise training and learning about physical health.
3) If data is collected for scientific purposes and you have not been notified, then it is highly illegal.
4) If data is collected by government agents (i.e. teachers)for other purposes, then you and everyone else here has been voting for the wrong people.
5) Don't let your kid take his heart rate monitor on this bus:
http://www.fox2now.com/videobeta/watch/?watch=b4857769-5b0b-4b89-bc23-09476439ac79&cat=empty&src=front&title=RAW%20VIDEO:%20Bus%20Beating%20Caught%20On%20Tape