New U.S. House Privacy Bills Raise Hard Questions About Enterprise Data Collection
Cynthia Brumfield, CSO Online
The SECURE Data Act and GUARD Financial Data Act are unlikely to pass, but they preview the privacy fights CIOs, CISOs, and CFOs will face anyway: data minimization, AI profiling, vendor accountability, and controversial new rules around teen data.
US House Republicans have introduced two major privacy proposals that would reshape how US companies collect, process, and retain consumer data: the SECURE Data Act for general consumer privacy and the GUARD Financial Data Act for financial institutions…
Read moreOPINION: The Credit Bubble Everybody’s Ignoring
Allysia Finley, Wall Street Journal
Federally backed student loans and mortgages are seeing increased defaults. Taxpayers are on the hook.
Rising defaults in private credit are rattling investors, while apparent fraud by some borrowers has fueled worries about lax underwriting. Investors are rushing to get their money out of funds to avoid getting stuck with big losses. Politicians are calling for—what else?—more regulation…
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DOJ Rescheduling Medical Cannabis May Reignite Bank Interest
Ebrima Santos Sanneh, American Banker
The Justice Department on Thursday announced it would issue a final order immediately reclassifying FDA-approved drugs and state-approved medical products as Schedule III substances.
The move follows President Trump’s executive order late last year directing the department to move cannabis from its Schedule I status and represents a first step toward fully rescheduling cannabis to Schedule III. Simultaneously, the DEA said it is withdrawing the
Read MoreINSIGHT: U.S. Banks Left Guessing Over Scope of Looming Order on Citizenship Data
Pete Schroeder, Tatiana Bautzer, and Michelle Price; Reuters/AML Intelligence
U.S. banks say they are largely in the dark about an expected White House order requiring them to collect data on their customers’ citizenship or immigration status, a directive senior industry executives warn would be costly and disruptive.
Treasury Secretary Scott Bessent told media outlet Semafor this month that the administration is working on the executive order, but did not provide details…
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