FDATA in the News

Steve was quoted in the The Logic, where he highlighted the irony of Canadian banks criticizing screen scraping as insecure while simultaneously using it themselves to power their own financial tools, underscoring the urgent need for open banking to provide a secure and standardized alternative.

Steve was published in the Open Banker, where he shared a compelling roadmap for leveraging fintech to drive innovation and improve consumer outcomes under the Trump administration. His insights highlight the importance of clear regulatory frameworks, expanded open banking, and right-sized oversight for fostering a competitive financial ecosystem.

Steve was published by The Globe and Mail, highlighting Canada’s delayed open banking journey and the urgent need to follow successful international models to foster innovation and competition. The piece emphasizes how the current approach risks stifling fintech innovation and entrenching barriers to entry for new market players.

Steve was quoted criticizing the Canadian government’s “one-size-fits-all” approach to open banking, which he warned could entrench a market dominated by a few large incumbents. He highlighted the need for a tiered system that supports innovation by recognizing the unique challenges faced by smaller fintech firms.

Steve was quoted highlighting that the new CFPB rule on consumer data significantly bolsters privacy protections by ensuring third-party consent is clear, time-bound, and restricts data use strictly to consumer-authorized purposes. He also emphasized that this rule is a crucial step towards creating a fairer, more competitive landscape in Open Banking, which will benefit consumers through lower fees and increased access to financial products.

Steve was quoted expressing support for the final rule, highlighting that it empowers consumers to control their financial data and choose providers that align with their needs. He also noted FDATA North America’s disappointment with the exclusion of Electronic Benefit Transfer (EBT) data from the rule.

Steve was quoted stating that the CFPB’s rule centers on giving consumers control, ensuring that it’s ultimately up to them—not the bank—whether to allow access to their financial data.

Steve was quoted as saying that Fidelity’s move is reminiscent of security concerns raised by the banking industry in the past, but noted that, in the traditional banking world, these issues were largely resolved through industry cooperation and the establishment of secure APIs.

Steve Boms was quoted saying that the debate is unlikely to explore nitty-gritty policy nuances, and that Harris may pursue a substantive conversation in an attempt to demonstrate superior command of the topic. He also noted that both candidates will frame their tax plans as efforts to boost the prospects of working-class and middle-income people.