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Friday, February 12, 2016

Washington update: more Choke Point, new cybersecurity push

President Barack Obama laid out a new, improved plan for shoring up the nation's cybersecurity defenses. The plan, which includes a 30 percent increase in federal budget allocations for cybersecurity initiatives in fiscal year 2017, which begins Oct.1, 2016, has been applauded by banking groups.

Separately, the White House made clear the President will veto any legislation passed by Congress limiting Operation Choke Point, a controversial Justice Department program that seeks to disrupt financial flows that support criminal enterprises.

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