FDATA in the News

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.

In this article on the CFPB’s progress on the Section 1033 rulemaking, Steve Boms describes the FDATA NA position that data aggregators should fall under CFPB supervision.

In this Op-Ed, Steve Boms urged the CFPB to finish a long-overdue rule to implement Section 1033 of the Dodd-Frank Act, which would empower Americans to share their financial data with the 3rd-party providers of their choice.

FDATA North America is quoted in this Betakit article applauding the long-awaited appointment of an Open Banking Lead in Canada.

Steve Boms is quoted in this article from Forbes, which compares the state of open banking and the fintech industry on both sides of the Atlantic.