H.R. 7437, also known as the “Fostering the Use of Technology to Uphold Regulatory Effectiveness in Supervision Act,” requires certain supervisory agencies like the Federal Reserve and the Consumer Financial Protection Bureau to evaluate their technological vulnerabilities. These agencies...
Simple Explanation
H.R. 7437 is a plan to make sure big agencies like the Federal Reserve have up-to-date computers and technology so they can keep a close eye on money and stay safe from hackers. They need to check if their old systems are slowing them down and tell the government how they will make things better.