FDATA in the News

FDATA once again contributed an article to The Paypers for their annual report on the status of open banking around the globe.

Steve Boms is quoted in this piece in Bloomberg Law which discusses the CFPB’s developing Section 1033 rulemaking and issues related to data security and liability

In this Op-Ed, Justin Santopietro argues that the development of a Self-Regulatory Organization (SRO) will be critical to the long-term success of cryptocurrencies.

Steve Boms is quoted in this piece from The Banker discussing the introduction of the FedNow instant payment system, and why it took the US so much longer than other countries to implement.

Steve Boms is quoted in this Betakit piece expressing concerns that Canada’s Open Banking working groups aren’t sufficiently addressing issues around dispute resolution and how the system will be governed.

Steve Boms is quoted in this piece from Canada’s Globe and Mail explaining how Open Banking benefits consumers by lowering prices and boosting competition.

“We now have a pretty detailed roadmap on how to proceed. It’s actually unleashing innovation and competition for consumers, (which is) amazing,” stated FDATA North America Executive Director Steve Boms.

A long-anticipated report from a federal advisory committee on open banking says Ottawa should aim to design, test, and launch an open banking system in 18 months.

This Bloomberg article on a petition from various US banking trade associations urging the CFPB to supervise both data aggregators and recipients features a statement from Steve Boms on behalf of FDATA NA.