Financial Services
FDATA actively engages with regulators to shape frameworks that empower consumers and safeguard markets.
Engagement includes:
- CFPB (U.S.): Supervision of non-bank markets and competition issues
- OCC, FDIC, Federal Reserve (U.S.), TPRM: Oversight of bank–fintech partnerships and payments.
- Finance Canada: Implementation of consumer-driven banking and open finance policies.
- OSFI (Canada): Third-party risk management and prudential oversight.
- FTC, SEC (U.S.): Data privacy and competition policy
Related Press Releases
November 17, 2020, Washington, DC - In response to ongoing discussions by large U.S. financial institutions and some policymakers to impose a mandatory 90-day reauthentication requirement for customers wishing to utilize third-party financial tools, the Financial Data and Technology Association (FDATA) of North America today released a paper that outlines the detrimental impact this requirement would have based on the real-world experience of consumers in the European Union and United Kingdom whose access to financial technology tools is hindered by a similar requirement.
As the Department of Finance enters the second phase of its consultative process, FDATA North America provided several suggestions that should act as a guide for the deployment of a successful open finance regime, gleaned from experience in other markets.
September 21, 2020, Washington, DC - Today, FDATA North America submitted comments to the US Federal Deposit and Insurance Corporation (FDIC) in response to its Request for Information (RFI) on standard setting and voluntary certification for models and third-party providers of technology and other services.
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Resources
Financial Services
Ohio Division of Securities Second Round Comment
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