Acting director wants agency run by a bipartisan body, not a lone director; Fed and OCC push for relaxing the supplementary leverage ratio at the biggest banks.
The self-regulatory body says working with data aggregators increases risk of cyber fraud, unauthorized transactions and identity theft. But aggregators say other links in the information chain are more vulnerable.
The agency’s acting director uses a reply letter to the senator not to answer her questions but to underscore that Congress lacks the ability to compel answers to such questions.
The central bank is taking a lead role in trying to combat the longstanding problem. A broad study by the Fed aims to measure the extent of payments fraud and to foster more collaboration in thwarting it.
