At a hearing before the Senate Committee on Banking, Housing, and Urban Affairs, witnesses addressed the use of mandatory arbitration clauses in financial service products.
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The U.S. House Committee on Financial Services marked up and passed bills on special purpose acquisition companies, broker-dealer and investment adviser mandatory arbitration clauses in customer agreements, and hiring practices.
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.