Many financial firms I talked to just told me that a reliable form of digital ID would really simplify the Anti-Money Laundering/Know Your Customer (AML/KYC) process, and make it faster, cheaper, and more reliable when they have to confirm the identity of customers.
Foster emphasizes the benefits of digital ID for financial processes.
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Do you remember with AIG, the real problem with AIG falling into bankruptcy is that it would immediately put a bazillion of the European banks into violation of their capital requirements, which was major contagion that----
There are some complex issues here, but we are working constructively to get this done.
I thank Chair Waters for yielding. Mr. Chair, I rise in opposition to this bill. I am encouraged by the dialogue and collaboration that has taken place between the House Financial Services Committee and the House Ag Committee on this bill…
I think it is my personal goal to die before we have another financial crisis, and then I will be doing my job well.
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