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(2) GEO-CODED ADDRESSES OF DEPOSITORS- Customer addresses shall be geo-coded for the collection of data regarding the census tracts of the residences or business locations of customers.
Originally posted by ohioriver
Why would we need to let a Foreign Government have oversight over our financial institutions?
SEC. 981. AUTHORITY TO SHARE CERTAIN INFORMATION WITH FOREIGN AUTHORITIES.
(a) Definition- Section 2(a) of the Sarbanes-Oxley Act of 2002 (15 U.S.C. 7201(a)) is amended by adding at the end the following:
`(17) FOREIGN AUDITOR OVERSIGHT AUTHORITY- The term `foreign auditor oversight authority' means any governmental body or other entity empowered by a foreign government to conduct inspections of public accounting firms or otherwise to administer or enforce laws related to the regulation of public accounting firms.'.
Does this really mean a Foreign Government can enforce laws here? Their laws or US Laws? This bill just keeps getting scarier.