'Exploiting Americans' data': House Intel demands 'critical' briefing on CCP-linked company Temu

Published On Sep 25, 2024, 4:00 AM

The House Intelligence Committee, led by Chairman Mike Turner and Rep. Darin LaHood, has requested a briefing from the FBI and SEC regarding Chinese e-commerce company Temu and its parent company Pinduoduo (PDD). They are concerned about the potential exploitation of American consumers' data and links to the Chinese Communist Party (CCP). This follows numerous allegations against Temu, including deceptive business practices and failure to adhere to U.S. laws regarding forced labor. This scrutiny parallels previous concerns over platforms like TikTok and reflects broader fears about national security among lawmakers.

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Stock Forecasts

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Negative

Given the mounting regulatory scrutiny and potential negative publicity linked to data privacy and exploitation of consumer data, Temu's underlying stock value may decline. This is compounded by potential legal actions and increased oversight from U.S. authorities.

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