fintech

Energy, Health departments at risk for cyberattacks, OMB says
EPA, FCC, FTC also ranked as being ‘at risk,’ with email threats most prevalent

EPA has “significant gaps in cybersecurity capabilities” according to an Office of Management and Budget report. (Caroline Brehman/CQ Roll Call)

Several large federal agencies continue to be at risk for cyberattacks even as the number of cyber incidents reported during fiscal 2018 fell compared with the previous year, the Office of Management and Budget said in a report sent to Congress on Friday.

The number of cyber incidents reported by federal agencies fell 12 percent to 31,107 during fiscal 2018 but “drawing conclusions based on this data point, particularly as agencies have adjusted to several new sets of reporting guidelines over the last few years, would be concerning,” the report said.

Democrats target state elections with focus on election security
Supporting secretaries of state offices in Kentucky, Louisiana and Mississippi in effort to expand voting rights

Democrats are supporting secretaries of state offices across the country to try to win a majority of those offices nationwide. (Bill Clark/CQ Roll Call file photo)

Democrats on Thursday launched a campaign to win secretaries of state races in Kentucky, Louisiana and Mississippi this November by pointing to their focus on boosting election security and expanding voting rights, compared with Republican officials.

“The office of the secretary of State is more important than ever,” Alex Padilla, the secretary of state for California and president of the Democratic Association of Secretaries of State, told CQ Roll Call. “Every election cycle is an opportunity to elect Democratic secretaries of State, but also to ensure security and accessibility” for voters.

IMF embraces new central bank digital currencies
Fintech Beat, Episode 15

IMF officials talk digital currency in the latest Fintech Beat podcast. (Credit: krblokhin/ iStock)

Democrats seek info on CFPB official’s ties to Christian group
Paul Watkins spent three years at the conservative Alliance Defending Freedom

Massachusetts Sen. Elizabeth Warren and other Democrats want documents from the CFPB on the hiring of Paul Watkins as director of the Office of Innovation. (Bill Clark/CQ Roll Call)

Updated | A group of Democrats, including presidential hopeful Sen. Elizabeth Warren of Massachusetts, are continuing to pressure the Consumer Financial Protection Bureau over a senior official’s ties to a conservative Christian group.

In a letter sent Wednesday to CFPB Director Kathleen Kraninger, Warren — along with Reps. Raja Krishnamoorthi of Illinois, Ayanna S. Pressley of Massachusetts and Katie Porter of California — demanded documents related to hiring Paul Watkins as director of the Office of Innovation, which has the power to grant fintech firms limited immunity from consumer protection laws.

A conversation with Domitille Dessertine, head of fintech in France
Fintech Beat podcast, Ep. 14

The Arc de Triomphe is seen in Paris at night. (Credit: Leo Patrizi/iStock)

Digging further into Libra's origin story
Fintech Beat podcast, Ep. 13

Facebook's Libra crypto coin logo is picture next to gold Bitcoins. (Cheng Feng Chiang/iStock)

Rating change: Hurd retirement moves Texas district toward Democrats
Three-term Republican won his Clinton seat along U.S.-Mexico border by less than 1,000 votes in 2018

Texas Rep. Will Hurd will not seek another term in 2020. (Bill Clark/CQ Roll Call file photo)

Rep. Will Hurd of Texas has been considered one of the Republicans’ strongest incumbents. He proved that last fall, when he was one of just three in the House GOP Conference to win reelection in a district that Hillary Clinton carried in 2016.

But Hurd, who founded a cybersecurity firm before running for Congress, announced Thursday night that he will be returning to his roots.

Chief administrative officer warns employees: Shape up or risk being outsourced
Congress is not looking to outsource CAO services — yet, Philip Kiko says

House Chief Administrative Officer Philip Kiko said Congress could be tempted to outsource CAO services to the private sector. (Bill Clark/CQ Roll Call file photo)

The House chief administrative officer struck an ominous tone in a staff meeting Wednesday, warning employees that Congress could eventually look to outsource many of their services to private sector vendors if they don’t step up and meet member demands.

In an all-hands meeting broadcast on YouTube, Philip Kiko focused on a set of recommendations approved by the Select Committee on the Modernization of Congress last week and his appearance before that same committee on July 11, both of which yielded criticism of his office’s performance.

Senate Banking members take skeptical look at cryptocurrencies
Blockchain firms have tried selling lawmakers on the potential for dramatically reduced transaction costs.

Senate Banking Chairman Mike Crapo, R-Idaho, sees data privacy as one of the primary risks. (Bill Clark/CQ Roll Call file photo)

Concerns over data privacy and skepticism about just how unique and beneficial cryptocurrencies and other blockchain-based digital assets could be dominated Tuesday’s Senate Banking Committee hearing on regulating the new technology.

“This new digital currency and blockchain technology is a very real — and potentially helpful — innovation,” said Chairman Michael D. Crapo, R-Idaho. “It’s also potentially harmful as there can be some serious risk involved in it.”

DOD workers bought thousands of Chinese electronics vulnerable to hacks, spying
More than 9,000 commercially available products could be used to spy on or hack U.S. military personnel and facilities

Aerial view of the Pentagon building photographed on Sept. 24, 2017. (Bill Clark/CQ Roll Call)

Defense Department employees have procured thousands of printers, cameras and computers that carry known cybersecurity risks, and the practice may be continuing, according to an audit released Tuesday by the Pentagon’s inspector general.

More than 9,000 commercially available information technology products bought in fiscal 2018 could be used to spy on or hack U.S. military personnel and facilities, the report said. Without fixing oversight of such purchases, more risks lie ahead, potentially including perils for top-dollar weapons that use such “commercial-off-the-shelf” or COTS devices.