OCE in Peril, Crypto Company Pays Up for Noncompliance
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** CfA's January 6, 2023 Newsletter
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With your support, Campaign for Accountability is working to expose corruption and hold the powerful accountable.
** This Week's Updates:
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Proposed GOP Rules Package Threatens Office of Congressional Ethics
Earlier this week, House Republicans released new rules ([link removed]) for the 118th Congress that would essentially shut down the Office of Congressional Ethics (OCE) by making it incredibly difficult to staff. Since 2008, OCE has helped bring corruption to light by investigating ethics complaints filed against members and their staff. By inhibiting the office's work, House Republicans could block inquiries and shield members on both sides of the aisle from accusations of wrongdoing. A number of watchdog organizations, including CfA ([link removed]) , have spoken out against this proposal.
New York Regulators Come Down on Coinbase
On Wednesday, the cryptocurrency exchange Coinbase agreed to pay a $50 million penalty after the New York Department of Financial Services found it had failed to comply ([link removed]) with banking, cybersecurity, and anti-money laundering protections. By not performing basic due diligence, Coinbase enabled customers to participate in criminal activity (which regulators documented multiple examples of). On top of this fine, the company will also have to put $50 million towards achieving compliance.
** What We're Reading:
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* U.S. Moves to Bar Noncompete Agreements in Labor Contracts ([link removed])
A new FTC proposal would stop companies from making employees sign noncompete agreements, which prevent workers from staring their own business or leaving for a competitor. The agency argues that this step could help raise wages for workers and remove barriers to competition.
* Insiders’ View of the January 6th Committee’s Social Media Investigation ([link removed])
Three researchers who served on the House January 6th committee have released an essay on the role social media companies played in fomenting election denial and organized violence. Their insights paint a picture of negligence at platforms like Facebook and Twitter, where inadequate content moderation allowed militias to recruit members and organize an assault on the capitol.
** Follow Our Work:
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We thank you for your continued support. Without people like you, our work would not be possible.
Here is how you can stay involved and help us accomplish our mission:
1. Follow CfA on Twitter ([link removed]) .
2. Follow the Tech Transparency Project on Twitter ([link removed]) .
3. Tell your friends and colleagues ([link removed]) about CfA.
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5. Make a tax-deductible donation ([link removed]) .
Be on the lookout for more updates about our work in the upcoming weeks. Thanks again for signing up to be a part of CfA!
Sincerely,
Michelle Kuppersmith
Executive Director, Campaign for Accountability
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