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  • BIS: The Design Of A Data Governance System

    Date 05/05/2022

    Technological developments over the last two decades have led to an explosion in the availability of data and their processing. Consumers often do not know the benefits of the data they generate, and find it difficult to assert their rights regarding the collection, processing and sharing of their data.  We propose a data governance system that restores control to the parties generating the data, by requiring consent prior to their use by service providers. The system should be open, with consent that is revocable, granular, auditable, and with notice in a secure environment. Conditions also include purpose and use limitation, data minimisation, and retention restriction. Trust in the system and widespread adoption are enhanced by mandating specialised data fiduciaries. The experience with India's Data Empowerment Protection Architecture (DEPA) suggests that such a system can operate at scale with low transaction costs.

  • US Federal Agencies Issue Joint Proposal To Strengthen And Modernize Community Reinvestment Act Regulations

    Date 05/05/2022

    Federal bank regulatory agencies today jointly issued a proposal to strengthen and modernize regulations implementing the Community Reinvestment Act (CRA) to better achieve the purposes of the law. CRA is a landmark law enacted 45 years ago to encourage banks to help meet the credit needs of their local communities, including low- and moderate-income (LMI) neighborhoods, in a safe and sound manner.

  • CryptoCompare Asset Report: Bitcoin Falls 17.3% To 2022 Low In April

    Date 05/05/2022

    Both traditional and crypto markets had negative movements in April. Bitcoin and stock indices moved sharply downward this month with returns of -17.3%, -9.1%, and -13.5% for BTC, S&P500 and Nasdaq respectively.

  • CFTC Commissioner Johnson Announces Initial Staff Appointments

    Date 05/05/2022

    CFTC Commissioner Kristin N. Johnson announced today appointments to her executive staff. Bruce Fekrat will serve as Chief Counsel and Natasha C. Robinson Coates and Lillian A. Cardona will serve as interim Senior Counsel.

  • BIS: The Design Of A Data Governance System

    Date 05/05/2022

    Technological developments over the last two decades have led to an explosion in the availability of data and their processing. Consumers often do not know the benefits of the data they generate, and find it difficult to assert their rights regarding the collection, processing and sharing of their data.  We propose a data governance system that restores control to the parties generating the data, by requiring consent prior to their use by service providers. The system should be open, with consent that is revocable, granular, auditable, and with notice in a secure environment. Conditions also include purpose and use limitation, data minimisation, and retention restriction. Trust in the system and widespread adoption are enhanced by mandating specialised data fiduciaries. The experience with India's Data Empowerment Protection Architecture (DEPA) suggests that such a system can operate at scale with low transaction costs.