FDATA in the News

The Consumer Financial Protection Bureau’s entrance into the battle between banks and fintechs over customer information appears to have done something remarkable by largely pleasing both sides.

The Department of Labor’s Fiduciary Rule on retirement advice is taking effect today. After much delay and uncertainty, particularly in the last six months under the new administration, retirement advisors now must put investor interests first when choosing products and determining fees for their services.

The June 9 initial applicability date of the DOL fiduciary rule is here, and advisors tell FA-IQ they’re largely ready to comply with the requirements of acting in the best interest of their clients. But a law firm notes that many advisors have been asking exactly how to comply with the Impartial ICS, which are in place until the rule’s full implementation on January 1, 2018.

Host Brian Wesolowski sits down with Natasha and Vijay from our Privacy and Data team to shine a spotlight on the myriad ways states are taking privacy regulations into their own hands, after several moves in the opposite direction from Congress. Then Brian brings in Steve Boms, Vice President of Government Affairs at Envestnet | Yodlee, to discuss what’s happening at the crossroads of finance and technology.

Young digital-first firms hoping to revolutionize the way advisors manage client finances and build their wealth claim they have run into resistance from major banks opposed to sharing financial data.

The ability of Americans to see their total financial picture across multiple financial institutions and quickly access technology-based tools to analyze their financial data is no longer theoretical. The fintech industry provides this capability to millions of consumers.

The big banks and Silicon Valley are waging an escalating battle over your personal financial data: your dinner bill last night, your monthly mortgage payment, the interest rates you pay.

Retirees who lost big in the 2008 financial crisis have good reason to worry about President Trump’s new rollbacks of Wall Street regulations. So do the robots.

A new financial-technology industry group is drafting a letter to federal bank regulators urging them not to squash screen scraping by casting the net too widely in a proposed rule on cybersecurity.