FDATA in the News

ABC: Interest rates may stay high for longer. Here’s what it means for the 2024 election.

Steve Boms highlights that more than six years after the 2018 federal budget announced Canada’s intent to establish an open finance regime, significant progress is evident with Budget 2024’s detailed government-led plan aimed at empowering consumers and small businesses through comprehensive control over their financial data, aligning Canada with global leaders in consumer-driven finance.

Steve Boms describes how the CFPB’s proposed rule on personal financial data rights aims to transform the financial ecosystem by empowering consumers to securely share their financial data with third-party services, advocating for the expansion of covered accounts and reconsideration of data use policies to fully realize the rule’s potential for a more competitive and consumer-centric market.

Steve Boms describes how the CFPB’s proposed rule on personal financial data rights aims to transform the financial ecosystem by empowering consumers to securely share their financial data with third-party services, advocating for the expansion of covered accounts and reconsideration of data use policies to fully realize the rule’s potential for a more competitive and consumer-centric market.

Steve Boms is quoted in this article advocating for the proposed Personal Financial Data Rights rule by the CFPB, emphasizing its potential to empower consumers by allowing secure electronic sharing of financial data with third-party financial service providers, thus enhancing competition and consumer choice in the financial services sector.

Steve Boms is quoted in this article commenting on the potential impact of interest rate cuts on the 2024 election, noting that while such cuts typically aim to boost employment and reduce unemployment, their effects might be limited in the current situation due to already low unemployment levels.

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.