Overview

• The NCLA claims the SEC's Consolidated Audit Trail program collects vast amounts of personal data in violation of the Fourth Amendment.
• The lawsuit, filed in the Western District of Texas, describes the program as the largest government-mandated data collection in U.S. history.
• Critics argue the SEC's actions constitute an overreach of authority, potentially endangering the privacy and financial security of millions.
• Former Attorney General William Barr criticized the SEC’s methods as contrary to Fourth Amendment protections.
• The SEC maintains that its actions are within its regulatory responsibilities, despite the allegations.