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Funding Mechanism

All articles tagged with #funding mechanism

cybersecurity2 years ago

Global Coalition Declares Zero Tolerance for Cyber Ransom Payments

A U.S.-led alliance of 40 countries is set to sign a pledge to never pay ransom to cybercriminals and work towards eliminating their funding mechanism, according to a senior White House official. The International Counter Ransomware Initiative aims to address the growing number of ransomware attacks worldwide, with the United States being the most affected. The alliance plans to enhance information sharing about ransom payment accounts and create two information-sharing platforms. Partner countries will share a "black list" of digital wallets used for ransomware payments, and artificial intelligence will be used to analyze blockchain for identifying illicit funds.

via Reuters|
#cybersecurity#funding-mechanism#information-sharing
politics2 years ago

Supreme Court's Verdict Looms Over Unaccountable Federal Agency's Power

The Supreme Court is set to hear oral arguments in a case that challenges the constitutionality of the Consumer Financial Protection Bureau (CFPB), an agency with unprecedented regulatory enforcement powers. The CFPB's funding mechanism, which allows it to operate independently of Congress, is being questioned for violating the separation of powers. The agency has faced controversy for its actions against American companies, restrictions on short-term loans, attempts to ban arbitration agreements, and expansion of anti-discrimination provisions. The court's decision could have significant implications for the agency's power and accountability.

via New York Post |
#consumer-financial-protection-bureau#dodd-frank-act#funding-mechanism
politics2 years ago

Democrats Rally to Defend CFPB's Existence in Supreme Court Case

More than 140 current and former Democratic lawmakers filed an amicus brief in the Supreme Court to defend the Consumer Financial Protection Bureau (CFPB) from challenges to its regulatory authority. The case challenges the constitutionality of the agency and would undermine its funding and mandated authorities. The lawmakers argue that upholding the appeals court decision that undermined the agency's funding mechanism would place at risk a funding model that has been used since the early Republic. The CFPB was created by the 2010 Dodd-Frank Act after the 2008 financial crisis.

via CNBC|
#cfpb#consumer-protection#democrats