The budget proposal addresses core priorities from the Biden campaign and earlier policy announcements from the Administration, including for economic recovery, climate change, and equity.
As the volume of cross-border transactions continues to increase, the risk of fraud and criminal activity rises in unison. To combat this, organizations must be able to establish a stakeholder’s legal identity in order to facilitate trust and transparency in transactions worldwide.
The Data Foundation’s Open Data Standards Task Force has issued recommendations that highlight areas where the federal government can take steps in 2021 to immediately institute improvements to financial regulatory data.
The response to COVID-19 using data around the globe suggests that, if societies want to combat future pandemics effectively, it is necessary, to employ new approaches to data governance. This will mean using evidence (data) to lead behavioral change.
The Data Foundation released “Eager for AI: Data Needs to Ensure Artificial Intelligence Readiness in the Federal Government,” a white paper developed in collaboration with the Data Coalition's Artificial Intelligence (AI) Task Force. Published in April, the paper is intended to serve as a resource for policymakers interested in AI oversight or funding needs, agencies looking to begin developing and implementing AI plans, or industry groups looking for ways to support the government.
Auditors and evaluators from GAO joined the Data Foundation in November 2022 as part of the Issues in Evaluation webinar series to share lessons learned while auditing and evaluating the implementation of the DATA Act.
As part of the White House Year of Evidence for Action, the Data Foundation convened an Evidence Forum on October 18, 2022, in partnership with the White House Office of Science and Technology Policy and the Office of Management and Budget to explore ways to produce evidence for end-users through the Evidence 2.0 framework.
The Data Foundation and the Bipartisan Policy Center hosted a hybrid event on Tuesday, September 13, marking 5 years since the Commission for Evidence-Based Policymaking released its unanimous final report.
Our two-day 2022 Virtual Research Symposium, in partnership with GW University’s Trachtenberg School for Public Policy and Public Administration, will provide an opportunity for researchers, data analysts, evaluators, program managers, and other experts from across the data and evidence community to share knowledge and innovative practices.
The Open Data Standards (ODS) Task Force continued its second year of engagement in 2021, convening data experts to discuss legislative activity, how applied linguistics could clarify meanings and definitions in financial services, how investors are handling environmental, social, and governance (ESG) data, the possible use of a National Secure Data Service for financial services research, and where open, standardized data are making gains.
The ODS Task Force launched in 2020 and includes senior level experts and thought leaders from across government, businesses, non-profits, and academia. Co-chairs from Bloomberg and the Data Foundation organize members of the ODS Task Force to discuss topics related to open data, open source, open financial data, and common business identifiers, and common barriers that prevent change across the financial industry and amongst regulators with the aim to ultimately inform and provide guidance for industry and regulatory decision-makers on trends, best practices, and critical topics.
Highlights from our 2021 meetings include:
Legislative briefings on the Corporate Transparency Act (enacted January 2021), beneficial ownership, the Financial Transparency Act, which would update regulatory use of data standards and open data access among members of the Financial Stability Oversight Council (FSOC)
The potential use of applied linguistics in financial industry as a way to encourage meaning diversity and better clarity in the data and information regulators and industry work with as featured in the book, Understanding the Financial Industry Through Linguistics: How Applied Linguistics Can Prevent Financial Crisis
How a proposed National Secure Data Service could be useful to financial services and among regulators, like financial inclusion, data sharing to support anti-money laundering efforts and identifying terrorist funding, ESG data exchanges, etc.
Barriers to change and the use of machine-readable and open data
Signals from leadership at the Department of Treasury to prioritize data quality and key linkages for entity identification
Rising importance of ESG-identified data for investments and related challenges
The task force meetings provide members with a forum for candid discussion, collaboration, problem solving, and knowledge sharing. This past year we discussed multiple areas of change in the government and in the private sector. ODS Task Force members will build on our discussions and efforts of the past two years, working across the financial sector, with regulators, and the data community to build consensus for the use of open data standards.
