From: Bloomberg/BNA
A new financial-technology industry group is drafting a letter to federal bank regulators urging them not to squash screen scraping by casting the net too widely in a proposed rule on cybersecurity.
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CFDR wants the regulators to apply cybersecurity rules tailored to the degree of risk to consumers and the financial system posed by the company involved, Boms said, so that a small fintech firm won’t face the same burden of regulation as its $100 billion bank partner.
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