President Barack Obama Inks Order To Secure Consumers Financial Future
Obama Signed Executive Order to provide consumers with more tools to secure their financial future
U S President Barack Obama signs an Executive Order to provide consumers with more tools to secure their financial future by assisting victims of identity theft+improving the Government’s payment security as a customer and a provider+accelerating the transition to stronger security technologies+development of next-generation payment security tools, at the Consumer Financial Protection Bureau in Washington, D.C., Oct. 17, 2014.
On Friday, President Obama signed a new Executive Order — the first part of the new BuySecure initiative — that takes critical steps to protect consumers’ financial security and improve confidence in the marketplace.
The Executive Order itself will help by assisting victims of identity theft, improving the government’s payment security as a customer and a provider, and accelerating the transition to stronger security technologies and the development of next-generation payment security tools.
In remarks at the Consumer Financial Protection Bureau (CFPB) announcing the new BuySecure initiative, the President highlighted some of the specific steps that his Administration and the private sector are taking to improve Americans’ financial security — and called on Congress again to enact overdue cybersecurity legislation that will protect Americans, particularly by clarifying companies’ obligations when sensitive data is breached.
Source White House