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☆ Lawmakers press companies that collect U.S. consumer data to reveal how they buy and sell it
▼ + stars: | 2023-05-10 | by ( Lauren Feiner | ) www.cnbc.com time to read: +3 min

In the letters, 10 lawmakers asked the companies for detailed responses on the types of sensitive information they gather, such as health, location and phone data, including apps consumers download to their devices. The companies were also asked what information they collect on minors. Last month, the subcommittee on oversight and investigations held a hearing with expert witnesses to examine "the role of data brokers in the digital economy." In that report, the regulator recommended that Congress force brokers to give consumers greater control over their data, but the "data brokers can easily circumvent existing rules and laws," the letter said. Here's the full list of data brokers who received the letter::AcxiomAtDataBabel StreetCoreLogic SolutionsEpsilon Data ManagementEquifaxExperianGravy AnalyticsInteliusKochavaLiveRampMylifeOracle AmericaPeopleConnectPlacer.aiRELXSafegraphSpokeoThomson ReutersTransUnionVerisk AnalyticsWhitepagesSubscribe to CNBC on YouTube.

☆ Here’s what the SEC will require under its strict new stock buyback disclosure rules
▼ + stars: | 2023-05-05 | by ( Christina Wilkie | In | ) www.cnbc.com time to read: +5 min

The new disclosure rules will begin to apply when U.S. corporations report earnings for the fourth quarter of 2023, and to foreign issuers on a slightly longer timeline. The new rules "will increase the transparency and integrity" of corporate stock repurchasing overall, and allow investors "to better assess issuer buyback programs," SEC Chairman Gary Gensler said in a statement about the updated disclosures. The changes approved Wednesday represent a softening of the SEC's initial proposed disclosure rules, which would have required public companies to report trades by corporate insiders on a daily basis. Public interest groups, many of which have become increasingly critical of widespread corporate buybacks, applauded the new rules. On Capitol Hill, bipartisan support for stricter buyback disclosure rules has been apparent since the start of the SEC's rulemaking process, more than a year ago.

☆ Woman arrested for allegedly throwing wine at Rep. Matt Gaetz
▼ + stars: | 2023-05-02 | by ( Kevin Breuninger | ) www.cnbc.com time to read: +1 min

A Florida woman was charged with felony battery after she allegedly threw a glass of wine on Rep. Matt Gaetz, R-Fla., officials said Tuesday. But Chambers told an officer at the time of her arrest that she "was walking and tripped and spilled her drink on Representative Gaetz," according to the report. She also said that she had consumed alcohol at the festival, and that she recognized Gaetz before spilling her drink. Stacy Froeschner, who was with Chambers at the time, said she had cursed at Gaetz as they walked past him, the arrest report said. Other witnesses told officers that they saw Chambers throw the drink, the report said.

☆ TikTok CEO set for grilling in House hearing. But U.S. lawmakers also face questions
▼ + stars: | 2023-03-23 | by ( Lauren Feiner | ) www.cnbc.com time to read: +15 min

U.S. tech platforms including Meta's Facebook and Instagram, Google's YouTube , Twitter and Snap's Snapchat have raised similar fears for lawmakers and users. Evaluating a potential banThere's little appetite in Washington to accept the potential risks that TikTok's ownership by Chinese company ByteDance poses to U.S. national security. The interagency panel tasked with reviewing national security risks stemming from ByteDance's ownership has threatened a ban if the company won't sell its stake in the app. Trahan said members should ask about national security risks of the app, but those questions should be substantive. Bowman noted lawmakers haven't received a bipartisan congressional briefing from the administration on national security risks stemming from TikTok.

☆ The rich keep getting richer and the poor keep getting poorer, says Rick Scott of the banking crisis
▼ + stars: | 2023-03-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe rich keep getting richer and the poor keep getting poorer, says Rick Scott of the banking crisisSen. Rick Scott (R-Fla.) joins 'Last Call' to discuss the current banking crisis and what can be done to deal with the problem.

☆ TikTok CEO got grilled by lawmakers from both parties on whether the Chinese-owned app can protect American privacy
▼ + stars: | 2023-03-23 | by ( Lauren Feiner | ) www.cnbc.com time to read: +4 min

"Welcome to the most bipartisan committee in Congress," boomed Rep. Rep. Greg Pence, R-Ind., noted this was the 32nd hearing Congress has held on privacy and Big Tech. A ban or forced sale of the app, which some members think is the only way to solve the immediate risks, is another matter. The Committee on Foreign Investment in the U.S. (CFIUS) is reviewing ByteDance's acquisition of TikTok's predecessor app, Musical.ly. Or, the government could find other ways to try to ban the app.

☆ Senate confirms Eric Garcetti as U.S. ambassador to India
▼ + stars: | 2023-03-15 | by ( Sahil Kapur | Frank Thorp V | ) www.cnbc.com time to read: +3 min

The Senate voted 52-42 on Wednesday to confirm former Los Angeles mayor Eric Garcetti to be the next U.S. ambassador to India. The long-delayed Garcetti nomination grew unusually contentious and sparked some last-minute drama. Several Democrats voted against advancing his nomination, but enough Republicans backed Garcetti to give the U.S. its first permanent ambassador to India under President Joe Biden, more than two years into his term. "The United States-India relationship is extremely important, and it's a very good thing we now have an ambassador," Senate Majority Leader Chuck Schumer, D-N.Y., said. But a group of Republicans voted yes and helped secure the necessary support, including Sens.

☆ Investors implore the government to step in after Silicon Valley Bank failure
▼ + stars: | 2023-03-11 | by ( Matt Rosoff | ) www.cnbc.com time to read: +5 min

Big names in Silicon Valley and the finance sector are calling publicly for the federal government to push another bank to assume Silicon Valley Bank's assets and obligations after the financial institution failed on Friday. But the vast majority of SVB's customers were businesses that had more than that on deposit at the bank. As of December, more than 95% of the bank's deposits were uninsured, according to regulatory filings. Investors are concerned that these failures could reduce confidence in the banking sector, particularly mid-sized banks with under $250 billion in deposits. "This was a hysteria-induced bank run caused by VCs," Ryan Falvey, a fintech investor at Restive Ventures, told CNBC on Friday.

☆ Senators unveil rail safety bill after Ohio train derailment
▼ + stars: | 2023-03-01 | by ( Liz Brown-Kaiser | Rose Horowitch | ) www.cnbc.com time to read: +2 min

A bipartisan group of senators will introduce legislation Wednesday aimed at preventing rail disasters after the devastating derailment in East Palestine last month. It would also require trained, two-person crews to work aboard every train carrying hazardous materials and levy heightened fines for rail carriers' wrongdoing. The Feb. 3 derailment of a Norfolk Southern train carrying vinyl chloride led to a spill of toxic chemicals. The bill will be introduced by Brown and his Republican counterpart, Sen. JD Vance, who represent the state where the Norfolk Southern derailment occurred. The Senate Environment and Public Works Committee on Tuesday asked Norfolk Southern CEO Alan Shaw to participate in an upcoming hearing.

☆ GOP lawmakers vilify ESG moves at BlackRock, Vanguard but take their money nonetheless
▼ + stars: | 2023-02-21 | by ( Brian Schwartz | ) www.cnbc.com time to read: +9 min

But Republicans have vilified BlackRock, Vanguard Group and State Street for leading the push on Wall Street to promote clean energy and what GOP lawmakers often title "left-wing social priorities." Still, many Republican lawmakers received money from the very firms their party is criticizing. It was the third election cycle in a row that both lawmakers took donations from the firm's PAC. Rep. Ann Wagner, R-Mo., received $10,000 from BlackRock and a combined $6,500 from Vanguard and State Street in the 2022 cycle. Huizenga's spokesman Brian Patrick said the donations won't affect the lawmaker's position on ESG issues.

In an exclusive interview with NBC News' Andrea Mitchell, Vice President Kamala Harris said she fully expects President Biden to run for re-election and said she intends to be his running mate again. Asked about Democrats who fret behind the scenes about both Biden and Harris being on the ticket, the vice president responded: "Joe Biden ... has said he intends to run for re-election as president and I intend to run with him as vice president of the United States." In the interview, conducted at the international Munich Security Conference in Germany, Harris was asked about comments made by former U.N. "In Joe Biden, we have a president who is probably one of the boldest and strongest American presidents we have had in his response to the needs of the American people," Harris continued. Ron DeSantis, R-Fla., who is widely expected to run for president in 2024.

Facing criticism from Democrats and frustration from Republicans, Sen. Rick Scott, R-Fla., has amended his controversial “Rescue America” plan that called for all federal legislation to sunset. The plan now lists “specific exceptions of Social Security, Medicare, national security, veterans benefits, and other essential services.”The previous language read: “All federal legislation sunsets in 5 years. If a law is worth keeping, Congress can pass it again.”The new language says: “All federal legislation sunsets in 5 years, with specific exceptions of Social Security, Medicare, national security, veterans benefits, and other essential services. Note to President Biden, Sen. Schumer, and Sen. McConnell — As you know, this was never intended to apply to Social Security, Medicare, or the US Navy” (bold included in plan). This isn’t the first time Scott has edited his controversial 12-point plan while under fire.

☆ U.S. Senator Rubio seeks review of Ford technology deal with China's CATL
▼ + stars: | 2023-02-15 | by ( David Shepardson | ) www.reuters.com time to read: +3 min

Anna Rose Layden/Pool via REUTERSWASHINGTON, Feb 14 (Reuters) - Senator Marco Rubio on Tuesday asked the Biden administration to review Ford Motor's (F.N) deal to use technology from Chinese battery company CATL (300750.SZ) as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan. The $430 billion IRA imposes restrictions on battery sourcing and is designed to wean the United States off the Chinese supply chain for electric vehicles (EVs). Treasury declined to comment, but Granholm said on Twitter on Monday that "bringing advanced manufacturing capabilities from overseas to the United States is key to our competitiveness, will stimulate our economy, and create good-paying American jobs." Ford said the plant would create 2,500 jobs and begin producing lower cost and faster recharging lithium-iron-phosphate batteries in 2026. Republican House Majority Leader Steve Scalise tweeted criticism of the Ford deal, while Republican Virginia Governor Glenn Youngkin said last month that his state had withdrawn from the competition to attract the Ford plant over concern's about China's potential involvement.

U.S. Rep.-elect Matt Gaetz (R-FL) delivers remarks in the House Chamber during the fourth day of elections for Speaker of the House at the U.S. Capitol Building on January 06, 2023 in Washington, DC. The Department of Justice has decided not to criminally charge Rep. Matt Gaetz, R-Fla., in the agency's two-year probe of alleged sex trafficking, his lawyers said Wednesday. The DOJ's decision was not a surprise, as nearly two years had passed without prosecutors filing charges against Gaetz, despite obtaining cooperation in their probe from his former friend, disgraced Florida tax collector Joel Greenberg. Gaetz's office in a statement, said, "The Department of Justice has confirmed to Congressman Gaetz's attorneys that their investigation has concluded and that he will not be charged with any crimes." The Washington Post in September reported that career prosecutors had recommended against charging Gaetz due to concerns about Greenberg and another potential witness.

☆ State of the Union brings brief unanimity on Social Security, Medicare. Why experts say there's still reason to worry
▼ + stars: | 2023-02-08 | by ( Lorie Konish | ) www.cnbc.com time to read: +4 min

That would include Social Security and Medicare. The Republican Study Budget Committee, which included a host of House GOP leaders, has also suggested other changes — raising the retirement ages for both Social Security and Medicare, as well as changing the measurement for annual Social Security cost-of-living adjustments. More recently, former Vice President Mike Pence called for reforming Social Security with the creation of private savings accounts. Rep. John Larson, D-Conn., has led a House bill that would apply reapply payroll taxes on $400,000 in earnings while also making benefits more generous. Biden similarly proposed expanding benefits and increasing payroll taxes on high earners during his presidential campaign.

☆ TikTok CEO to testify before Congress in March amid app security questions
▼ + stars: | 2023-01-30 | by ( Rose Horowitch | Rose Horowitch Is An Intern With Nbc News Digital Politics. | ) www.nbcnews.com time to read: +3 min

TikTok CEO Shou Zi Chew will appear before Congress in March to field questions about the viral video app's security measures amid mounting efforts to ban it because of privacy concerns. TikTok, which is owned by the Chinese company ByteDance, has come under increased scrutiny after media reports showed possible security breaches. Several lawmakers are supporting legislation to ban the app from the U.S. entirely. The ban Biden approved, which was wrapped into the omnibus spending bill, included limited exceptions for law enforcement, national security and security research purposes. Last month Congress banned it on all government devices.

☆ DOJ 'actively working' to brief senators on Biden and Trump classified documents
▼ + stars: | 2023-01-29 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Julie-Tsirkin-Circle-Byline-Template.Jpg | Julie Tsirkin | ) www.nbcnews.com time to read: +2 min

Senators of both parties voiced frustration after they left a closed-door briefing last week with National Intelligence Director Avril Haines, who declined to show them copies of the classified documents discovered at Trump’s Florida resort and Biden’s office and Delaware home. Haines also declined to discuss the sensitive material, citing ongoing special counsel investigations, according to members of the Senate Intelligence Committee who attended the classified briefing. In a joint appearance Sunday on CBS News’ “Face the Nation,” Warner and Rubio called for immediate document oversight. That means we need these documents,” Warner said. Jordan this month announced the committee had opened an investigation into the Obama-era classified documents found in Biden's possession.

Former Transportation Secretary Elaine Chao called out former President Donald Trump amid his racist broadsides aimed at her and his other anti-Asian rhetoric. Trump, who is ramping up his 2024 presidential campaign, has repeatedly made racist attacks against Chao, who served in his administration, in recent months. Chao’s latest statement comes in the wake of several high-profile shootings targeting Asian Americans. Other Republicans, such as Sen. Rick Scott, R-Fla., have stopped short of condemning Trump’s attacks, often equating them to the former president’s penchant for using nicknames. She later served as Transportation secretary for the Trump administration.

WASHINGTON — Republicans, newly empowered with a House majority, are demanding spending cuts as a price for lifting the debt ceiling and averting a catastrophic default on U.S. debt. Republicans are divided over whether Medicare and Social Security spending should be on the chopping block. Jose Luis Magana / APLuna said she wants to do it without tax increases or Social Security or Medicare cuts. The White House has vowed that Biden won’t grant concessions on the debt limit and that paying the country’s bills is non-negotiable. But I think we’ve got to also honor our commitment to Americans when it comes to Social Security and Medicare,” Garcia continued.

Haines also refused to discuss the sensitive material, citing ongoing special counsel investigations, according to members of the Senate Intelligence Committee who attending the classified briefing. Sen. Tom Cotton, R-Ark., was so furious after the briefing that he threatened to block presidential nominees or funding for some federal agencies until the Biden administration shows key lawmakers the classified documents. “Whether it’s blocking nominees or withholding budgetary funds, Congress will impose pain on the administration until they provide these documents. The bipartisan leaders of the Senate Intelligence panel emerged together from the secure briefing room and rejected the administration’s argument. “I’m not saying anything bad about the three [Biden, Trump and Pence], but classified information in the wrong hands can create problems for our country, put people at risk.

☆ Sen. Josh Hawley says he'll introduce legislation to ban TikTok nationwide
▼ + stars: | 2023-01-25 | by ( Https | Media-Cldnry.S-Nbcnews.Com Image Upload Newscms Rebecca-Shabad-Circle-Byline-Template.Jpg | Rebecca Shabad | ) www.nbcnews.com time to read: +3 min

WASHINGTON — Sen. Josh Hawley, R-Mo., has announced he plans to introduce legislation Wednesday that would ban the popular social media app TikTok in the United States. Now I will introduce legislation to ban it nationwide." "But listen, I welcome all efforts to ban TikTok, of whatever form it takes." Under that measure, the president could impose sanctions on TikTok and other social media companies to prevent commercial operation in the U.S. Several states have also taken steps to prohibit the use of TikTok on government devices.

McCarthy made good on his promise to block former House Intelligence chair Adam Schiff and Rep. Eric Swalwell — both California Democrats — from serving on that panel. In addition to keeping Schiff and Swalwell off the Intelligence Committee, McCarthy previously said he intended to remove Rep. Ilhan Omar, D-Minn., from the Foreign Affairs Committee. Rep. Thomas Massie, R-Ky., who backed McCarthy but has caused headaches for GOP leadership in the past, also got a slot on the panel. The coronavirus committeeRep. Brad Wenstrup, R-Ohio, will chair the special committee investigating the spread of the coronavirus. Last week, McCarthy named GOP members to a third select committee, focused on competition between the U.S. and the Chinese Communist Party.

The U.S. government’s system for labeling and tracking classified documents appears to be broken, with potentially serious consequences for the country’s national security, lawmakers, former officials and scholars said Tuesday. Democratic and Republican lawmakers said there was a “systemic failure” if both the Obama and Trump administrations could not keep track of classified documents after their tenures ended. I don’t know how anybody ends up with classified documents. “We clearly don’t have an effective management system to oversee where classified documents go and how they’re retrieved,” said Sen. Mitt Romney, R-Utah. Goitein and others said the recent discoveries of classified documents present a political opportunity for the White House, and possibly Congress, to at last tackle the problem.

A "small number" of classified documents were discovered last week at former Vice President Mike Pence’s Indiana home, according to two letters Pence’s counsel sent to the National Archives obtained by NBC News on Tuesday. Pence's team “immediately” secured the classified documents in a locked safe, Jacob said. The transfer was facilitated by Pence’s personal attorney, who has experience in handling classified documents and was involved with the Jan. 16 discovery. Pence spokesman Devin O’Malley later told NBC News that “no potential classified documents” were found at the offices of Pence’s organization Advancing American Freedom after Pence’s team searched the offices and the former vice president’s home in Indiana. In a statement Tuesday, Comer said Pence reached out to the panel about classified documents found at his Indiana residence.

WASHINGTON — Conservative hard-liners are consolidating power in the narrow new House majority, presenting early challenges for Republicans in swing districts ahead of the 2024 election as Democrats seek to paint the entire party as beholden to extremists. Twenty House GOP hard-liners have set the tone, extracting a series of concessions from Speaker Kevin McCarthy, R-Calif., to change House rules while securing plum committee assignments and winning assurances about advancing their legislative priorities. “If you can’t win independent voters, you can’t win elections.”Democrats are targeting 25 districts to win back the House majority next year, including 18 Republican-held seats that Biden carried in 2020. In the narrow Republican majority, McCarthy has only four votes to spare before he requires Democratic support to pass measures. Lance, the former congressman, argued that renominating former President Donald Trump could cost Republicans the House.

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