The gym before wisconsin is recognized for five minutes. I think the chair. Let me start with you if i can, mr. Johnson. The cfpb can see that it quote lacks sufficient information of substantial number of known Market Participants necessary to estimate their larger participant status, end quote. In other words, they dont know the data can then have the data to and how Many Companies will be swept under the role. It of how much the rule really consult with the full market impacts could be. Cfpb uscirf under cfpb. With this the unusual in your professional opinion . I think would be unusual and certainly present a challenge risk. In some ways this is bureaus response to an executive order and revise guidance or omb regarding the relaxing of standards for costbenefit analysis. I appreciate that. I continue to have concert cfpb isnt doing a proper costbenefit analysis and the fact we dont have data that will be swept in and residual ethic is currently concerning. Let me continue on which
Feel free to respond in writing on that question. As you know we do have votes on the floor and we will take a recess for not less than five minutes and we will come back and finish up her questions and we think the panel for excellent testimony. We are in a recess for five minutes. I want to thank all of our witnesses for being here and i recognize opening comments. The gentleman from wisconsin is recognized for five minutes. I think the chair and let me start with you if i can come mr. Johnson. Cfpb can see that it lacks sufficient information of substantial number of known participants necessary to estimate their larger participant status. In other words, they dont know have the data to know how Many Companies will be swept under the rule and they dont know how much it costs or what the impact could be. You served as cfpb under a Previous Administration but does moving forward without adequate data, is it something usual . I think it would be unusual and certainly present a challeng
This is two hours and 15 minutes. I ask all of her guests to please take their seats. The chair recognizes himself for five minutes of an opening statement. Todays hearing is about what is likely the most consequential cyber attack and healthcare history. How could Something Like this happen . How did consolidation and Health Insurance industry reach such a state that a single ransom or attack on one company crippled the flow of payments and claims for months. Change healthcare unitedhealth club subsidiary for the Cyber Security attack. Roughly 50 of claims a passthrough or touch changes clearinghouse providers have this much of the medical claims process the market share it makes them a large target for bad actors. Its even more sounding when you consider the attack itself reportedly compromise without multi factor authentication. I am concerned about patients who have been affected. Many patients were left left out of pocket for medication the pharmacy cannot process their claims or
This is two hours and 15 minutes. I ask all of her guests to please take their seats. The chair recognizes himself for five minutes of an opening statement. Todays hearing is about what is likely the most consequential cyber attack and healthcare history. How could Something Like this happen . How did consolidation and Health Insurance industry reach such a state that a single ransom or attack on one company crippled the flow of payments and claims for months. Change healthcare unitedhealth club subsidiary for the Cyber Security attack. Roughly 50 of claims a passthrough or touch changes clearinghouse providers have this much of the medical claims process the market share it makes them a large target for bad actors. Its even more sounding when you consider the attack itself reportedly compromise without multi factor authentication. I am concerned about patients who have been affected. Many patients were left left out of pocket for medication the pharmacy cannot process their claims or
When you are connected along these other television providers. Unitedhealth group ceo andrew testify for house lawmakers of a recent cyber attack on change healthcare. A subsidiary of the group that disrupted the payment and claims process for providers. He was asked about cooperation with the federal officials and the help he offered to those impacted by the cyber attack. This is two hours and 15 minutes. I ask all of her guests to please take their seats. The chair recognizes himself for five minutes of an opening statement. Todays hearing is about what is likely the most consequential cyber attack and healthcare history. How could Something Like this happen . How did consolidation and Health Insurance industry reach such a state that a single ransom or attack on one company crippled the flow of payments and claims for months. Change healthcare unitedhealth club subsidiary for the Cyber Security attack. Roughly 50 of claims a passthrough or touch changes clearinghouse providers have