The proposal, published by Andrew Davidson, seeks to create a platform where regulators, investors, mortgage servicers and more would share their own data and receive access to the broader pool of data, in an effort that could decrease costs and improve attempts to aggregate mortgage data.
J-T Gaietto, chief operating officer at ConvergentDS, a firm that helps assess cyber risks, said obtaining cybersecurity insurance “isn’t the easiest thing to accomplish.”
“The Biden administration is committed to fostering innovation in the financial sector while ensuring that we protect consumers, investors, and our financial system from risks that new technologies pose,” said Nellie Liang, under secretary for domestic finance at the Treasury.