FDATA in the News

In case you missed it, please tune into the latest American Banker podcast episode where Steve and Penny Lee, president and CEO of the Financial Technology Association, join to shed light on the CFPB’s Section 1033 rulemaking and its necessity in the evolution of open finance.

Steve Boms is quoted in this piece expressing satisfaction with the proposed rule, highlighting its robust data security and privacy standards aimed at safeguarding consumers in their financial management choices.

Steve Boms is quoted in this piece expressing support for the CFPB’s proposed rule, which he said aims to grant consumers full control over their financial data and foster increased competition and choice in the financial services market.

Steve Boms is quoted in this piece endorsing the CFPB’s proposed rule to grant consumers control over their financial data, leading to more competition and better outcomes.

Steve Boms is quoted in this piece urging the Canadian government to release an action plan and timeline to rapidly implement open banking in Canada after significant delays.

Steve Boms is quoted in this piece stating he believes governance is the essential building block of Canada’s Open Banking Framework.

Steve Boms argues that if the Canadian government is serious about supporting consumers’ financial wellbeing and encouraging competition, it must prioritize the open finance file to give all Canadians the modern financial system they deserve.

Steve Boms pushes back against the idea that open banking in any way contributed to the liquidity crises recently faced by several US banks, and stressed that completion of the Section 1033 rule should not be impacted by these developments.

Steve Boms emphasizes that governance is the crucial foundation of Canada’s Open Banking framework, stating that a strong and impartial governance entity with well-defined responsibilities is necessary for the successful launch of Open Banking and its evolution into an Open Finance system over time.