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Powell says Fed and banks are vigilant on cyber threats; lawmakers press on Iran risk
Summary
Committee members asked Fed Chair Jerome Powell about the Fed's readiness for state-backed cyberattacks on financial infrastructure. Powell said the Fed coordinates with regulators, banks and other government parts, that the Fed invests heavily in cyber defenses, and that the Fed monitors banks and payment systems for threats; he said
Several members raised national-security concerns about cyber threats to financial infrastructure, including potential Iranian retaliatory attacks.
Representative Heimer asked about steps the Fed is taking to monitor and defend against cyber threats to banks and financial market infrastructure. Powell said the Fed is "in touch…
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