FDATA in the News

Steve Boms was quoted in American Banker on the CFPB’s forthcoming revised Section 1033 open banking proposal. The article examines reports that the new framework could allow financial institutions to charge third parties for data access and highlights FDATA’s position that consumers must retain the right to securely access and share their financial data without fees.

The Paypers highlighted FDATA's new white paper, Access to Action: Agentic Fintech & Write Access, which outlines a practical governance framework for AI-powered financial tools that can act on behalf of consumers and small businesses. The article emphasizes FDATA's recommendation to build on existing consumer protection, payments, and data governance frameworks to enable secure write access and support the next phase of open finance innovation in the United States and Canada.

FF News highlighted FDATA's Access to Action white paper, which proposes a practical policy framework for governing agentic fintech and AI-enabled write access without creating an entirely new regulatory regime. The article focuses on FDATA's "Read, Instruct, and Transact" framework and its recommendations to strengthen consumer data rights, clarify liability for automated write-access activities, and enable standing authorizations for AI-powered financial tools operating within consumer-defined parameters.

Open Banking Expo covered FDATA's release of its white paper, Access to Action: Agentic Fintech & Write Access, highlighting its proposed principles-led framework for governing agentic and AI-powered fintech tools. The article emphasizes FDATA's recommendation to build on existing legal and regulatory frameworks for data access, payments, consumer protection, and fiduciary responsibilities to enable customer-authorized write access while supporting innovation, consumer trust, and the continued evolution of open finance in the United States and Canada.

Steve Boms and Dan Murphy join Alex Johnson for a discussion on the future of agentic finance. They explore FDATA's Write Access Working Group (WAWG) white paper's Read, Instruct, and Transact framework, the governance needed for AI-powered financial services, and why existing legal and regulatory frameworks may already provide the foundation for responsible innovation.

FDATA Executive Director Steve Boms joined RegFi co-hosts Jerry Buckley and Sherry Safchuk for an in-depth discussion on the future of consumer-permissioned financial data, the evolving outlook for the CFPB's Section 1033 rule, and the policy debates shaping open banking in the United States. The episode also previews FDATA's forthcoming policy report on agentic AI, exploring how existing legal and regulatory frameworks can support AI-driven financial services while safeguarding consumer privacy, security, liability, and trust.

FDATA's Chair, Christine Day, ICD.D, and Vice Chair, Kat Cloud, were featured in Fortune's Most Powerful Women Daily, which highlighted their appointments among notable leadership moves across the business, finance, and technology sectors. The recognition reflects the growing influence of FDATA's leadership as the organization continues to advance consumer-permissioned financial data and open finance around the world.

FDATA was featured in BetaKit following the release of the federal government's proposed consumer-driven banking regulations, highlighting the significance of the draft framework as Canada moves closer to implementing open banking. Steve emphasized that the proposed rules establish a broad open finance framework covering banking, lending, investment, and payment account data, while noting that the absence of FDATA's proposed "sponsored fintech" accreditation model could create barriers for smaller fintech firms seeking to participate. He underscored the importance of finalizing a proportionate accreditation framework and technical standards that promote innovation, competition, and broad participation as the regulations move through the public consultation process.

Steve was featured in BetaKit discussing Canada’s progress toward implementing consumer-driven banking and the importance of ensuring the framework supports innovation, competition, and consumer choice. He highlighted FDATA’s proposed “sponsored fintech” model, which would enable smaller fintech firms to participate in the open banking ecosystem through partnerships with accredited entities, helping to prevent market concentration and expand access to innovative financial services. Steve also emphasized the importance of finalizing accreditation requirements and technical standards to support a secure, competitive, and inclusive open banking framework in Canada.