SEC hit with new lawsuit alleging 'mass surveillance' of Americans through stock market data
Fox News
The Securities and Exchange Commission is illegally collecting data of every citizen who invests in the stock market, a new lawsuit by the New Civil Liberties Alliance claims.
The agency is doing so, NCLA says, without authorization from Congress and in violation of the Fourth Amendment, which prohibits unreasonable government search and seizure of private information. Brianna Herlihy is a politics writer for Fox News Digital.
Conceived during the Obama administration with bipartisan support within the Commission, the CAT program is a multibillion-dollar, self-appropriated fund, powered by various fees the SEC has collected through investment transactions, NCLA says. The group calls it "completely unlawful" and says it puts Americans’ financial data at "grave risk."
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