Tech and Internet companies breathed a sigh of relief after learning that financial industrynrevamp legislation agreed upon Friday by the House and Senate did away with provisions theyndidn’t like. It appears that the tech community’s concerns were addressed in conference, saidna spokeswoman for Rep. Doris Matsui, D-Calif. Matsui had voiced concerns with the Housenversion’s effect on companies in her state. But Matsui is still reviewing details of thenagreement, the spokeswoman said. Several groups said they were especially glad the FTC’snauthority would not be expanded. The Direct Marketing Association is “pleased” that thenSenate conferees rejected the House language, because that provision would have allowednthe FTC to govern industries that have “nothing to do” with financial services, she said. Thencombined version is much more focused on financial regulatory reform, said Josh Lamel, ansenior vice president at TechAmerica. FTC expansion issues deserve their own debate in thenmore appropriate context of an FTC reauthorization, he said.
展开▼
