FDATA in the News

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.

In addition to a multitude of innovations, the Industrial Revolution was significantly impacted by the railroad. The Iron Horse allowed goods to travel in days across the American continent that would previously have required months, fueling the factories and workers in American cities that turned this nation into an economic powerhouse.

The debate over screen scraping has long pitted banks against fintech companies, but it has also recently captured the interest of another powerful interest group: Silicon Valley.

For those who believe passionately in the democratization of consumers’ financial data, the Consumer Financial Protection Bureau’s new interest in protecting third-party access to such data is a significant victory.