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This bill directs the Office of Management and Budget to develop standards and guidelines requiring the removal of certain financial service applications connected to China from the information technology of executive agencies. Specifically, this applies to an application (1) domiciled in a jurisdiction controlled by the Chinese Communist Party (CCP), or (2) if an entity domiciled in a jurisdiction controlled by the CCP has at least a 10% voting interest. The bill makes exceptions, including for law enforcement.
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