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Senators urge stronger safeguards as brokerages face theft concerns

Senators Ron Wyden and Elizabeth Warren asked regulators to require brokerages to add stronger customer protections after concerns that some accounts remain vulnerable.

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Senators Ron Wyden and Elizabeth Warren, ranking Democrats on the U.S. Senate Finance and Banking committees, have urged regulators to require brokerages to strengthen customer protections, according to the New York Times Business.

The senators said they are concerned that some brokerages have left customer accounts open to theft, prompting calls for tighter rules and safeguards to reduce customer risk.

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