I thank Senator Cornyn and Senator Leahy for their work on this important legislation and for working with me to clarify the scope of this bill. I hope Senator Cornyn and Senator Leahy continue to work on these issues with the financial regulatory agencies, including if the bill is considered in any conference with the House of Representatives, to ensure that this new standard will not undermine the broad protections currently afforded to confidential supervisory information and in turn undermine the cooperative relationship between regulators and their supervised institutions. ____________________
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