Monitoring Social Media for Financial Stability and Preventing Bank Runs.
This new law aims to protect your money in banks. The government will monitor social media to quickly detect rumors that could cause panic and mass withdrawals from banks. This is intended to prevent financial crises that could affect your savings.
Key points
The Financial Stability Oversight Council will monitor social media platforms for indicators of potential bank runs or financial panic.
The act defines "social media platform" to clearly specify what will be monitored.
A study will be conducted to determine how social media content affects financial panic and bank runs.
Status:
Expired
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