Bank of America Faces Congressional Probe Over January 6 Information-Sharing
In the latest development surrounding the investigation into banks’ handling of customer information during the January 6, 2021, Capitol attack, House Judiciary Committee Chairman Jim Jordan has issued a subpoena to Bank of America. This move is part of a broader inquiry into the information-sharing practices between financial institutions and the FBI. Despite some documents being provided, the bank has yet to share the complete filing submitted to the FBI. The investigation, initiated in May, raises concerns about the delicate balance between national security imperatives and consumer privacy rights, potentially influencing future legislation on data privacy in the financial sector. The outcome of these inquiries could set crucial precedents for the handling and sharing of customer information by financial institutions.
U.S. stops granting export licenses for China’s Huawei – sources
The Biden administration has stopped approving licenses for U.S. companies to export most items to China’s Huawei, according to three people familiar with the matter.
USTR says new trade tools needed to fight China state-led trade
The United States needs to pursue new strategies and update its domestic trade tools to deal with China’s “state-led, non-market policies and practices”, the U.S. Trade Representative’s office said on Wednesday in a new assessment report.
