U.S. Senators Elizabeth Warren (D-MA), Richard J. Durbin (D-IL), Sheldon Whitehouse (D-RI), and Bernard Sanders (I-VT) requested that Acting OCC Comptroller Michael J. Hsu rescind the OCC's interpretive letters that permit banks to engage in crypto-related activities.
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Senator John Kennedy (R-LA) introduced the "Protecting Investors' Personally Identifiable Information Act." The legislation would exclude personally identifiable information from Consolidated Audit Trail reporting requirements.
In testimony before the Senate Committee on Banking, Housing and Urban Affairs, SEC Chair Jay Clayton described progress on the agency's FY 2019 initiatives.
The Senate Banking Committee considered data protection and other concerns raised about the consolidated audit trail system.
U.S. Representatives Carolyn B. Maloney (D-NY) and Patrick McHenry (R-NC) introduced a bill that would require all eight U.S. financial regulators to enact a set of data collection and dispersion standards for reported information.