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
March 20, 2019, Washington, DC – In advance of a Canada Standing Senate Committee on Banking, Trade and Commerce hearing on March 21, the Financial Data and Technology Association today released a new paper, “Opportunities in Open Banking,” that outlines the benefits of open banking for Canadian consumers, businesses, financial institutions and the economy.
FDATA North America has published a submission to Finance Canada's Open Banking Review.
While the U.S. government hobbles from one crisis to the next — the partial shutdown is just the latest example — policymakers in several other countries are staking out long-term positions that embrace financial technology innovation for the benefit of their citizens.
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Resources
Open Banking
FDATA 1033 ANPR PFDR Comment Letter
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