Open Banking
Consumers—not institutions—should control access to their financial data. FDATA has led advocacy in both the U.S. and Canada to ensure fair, secure, and competitive frameworks.
- United States: Defending Section 1033 of the Dodd-Frank Act, engaging with the CFPB, and pushing back against bank-imposed barriers.
- Canada: Supporting implementation of the Consumer-Driven Banking Act and advancing interoperability across provinces.
Related Press Releases
January 31, 2020, Washington, D.C. - The Department of Finance Canada today released "Consumer-Directed Finance: The Future of Financial Services," which is the result of more than nine months of consultation with stakeholders in the financial services and financial technology sectors. Financial Data and Technology Association (FDATA) of North America Executive Director Steve Boms issued the following statement upon release of the report:
November 19, 2019, Washington, DC - FDATA North America today announced the release of a white paper that provides guidance to United States and Canadian standards-creation bodies and policymakers as they seek to establish industry-led working groups that would begin to design voluntary standards around open banking regimes in their respective countries.
April 2, 2019, Washington, DC – The Financial Data and Technology Association of North America today released a new paper, “Opportunities in Open Banking,” that outlines the benefits of open banking for U.S. consumers, businesses, financial institutions and the economy.
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Resources
Open Banking
FDATA 1033 ANPR PFDR Comment Letter
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