Financial sector groups raise concerns over ‘systemically important entities’ proposal in House defense policy bill

Two large financial associations are asking key Senate committee leaders to oppose inclusion of a Cyberspace Solarium Commission recommendation that would codify “systemically important entities” at CISA, when the chamber considers its version of the fiscal 2023 National Defense Authorization Act on the floor.

The Bank Policy Institute and American Bankers Association call the SIE amendment from Rep. Jim Langevin (D-RI) “problematic for several reasons.” The SIE bill is a revamped Solarium Commission recommendation from the 2020 landmark report...