North America

The Financial Data and Technology Association of North America: aggressively advocates for the rights of consumers and small businesses to have full utility of their financial data under a well-regulated and evenly-applied open banking regime; draws attention to anticompetitive behaviour in the marketplace that threatens consumers’ and small businesses’ financial data rights; and asserts before policymakers, industry stakeholders, and interested parties its expertise, gleaned from experience in other markets globally, regarding consumer and small business data rights and protections and the use of technology by regulatory agencies to deliver more efficient, innovative policy environments.
What we are doing in North America

FDATA North America continues to advocate for the rights of consumers and small businesses in the United States, Canada, and Mexico to have full utility of their financial data under a well-regulated and evenly-applied open finance regime.

Through our work, we provide input to policymakers and market stakeholders regarding the most appropriate regulatory and legal frameworks under which to provide for a consumer-centric financial ecosystem.

Regional Director

Steve Boms, Executive Director of the Financial Data and Technology Association of North America, has more than 15 years of experience working inside government, public and private companies, trade organizations, and the technology industry, and assists member companies and clients in working with policymakers in Washington, in statehouses across the United States, and internationally. Steve has spent his career focused on complex financial services public policy issues, having worked in the United States Congress on the committee with jurisdiction over banking issues. He has led advocacy efforts and public policy teams globally for equity options exchanges, large U.S.-based financial institutions, and leading fintech firms. A recognized expert in the intersection of financial technology and public policy, Steve has testified before the United States Senate, the Senate of Canada, and the Organisation for Economic Cooperation and Development regarding financial services and technology.

In addition to working directly with FDATA North America’s members, he is a frequent conference panelist and his perspective is solicited by reporters on the technology, financial services, and regulatory beats.

Steve is also the President and founder of Allon Advocacy, LLC, a public policy firm that helps technology, fintech and financial services firms navigate complex public policy and public affairs environments around the world.

What do you get for memberships?

We lobby government, regulators, policy makers and key stakeholders to support the benefits Open Banking and Finance brings to end consumers.

We represent our members’ views, giving them a collective seat at the industry negotiation table. We hold seats on a number of policy working groups, expert advisory groups, and task forces related to Open Banking. In these various forums, we ensure the risks and impacts to fintechs are considered, and that a collective position on the solution to these matters is presented to decision makers. We provide collective bargaining and negotiating power that individual firms cannot achieve on their own.

We also provide direct access and engagement to these decision makers for our members, with regular opportunities to speak directly to policy makers in industry roundtables we host.

FDATA gives members forward intelligence on key policy matters, changes, and trends. Our members can participate directly in various working groups, who serve to shape FDATA’s policy positions and recommendations.

We offer our member firms individual consultations on various policy, market positioning, and market expansion strategies. This service extends to introductions to potential partners across the ecosystem, from direct connections to opportunities to socialise with other ecosystem players at our hosted events and industry roundtables.

Annual subscription for membership of FDATA is based upon the employee headcount a company maintains in each region. Please contact the Region Director directly to discuss the benefits of membership and pricing applicable to your regional presence.
Membership Categories
1.
1-9 employees
2.
10-19 employees
3.
20-49 employees
4.
50-99 employees
5.
100-249 employees
6.
250-499 employees
7.
500+ employees

FDATA North America Submits Comments to Canada’s Department of Finance Pre-Budget Consultations 2024

Contact: Laine Williams, (202) 897-4757, [email protected]  February 9, 2024 Washington, DC – The Financial Data and Technology Association of North America (FDATA) submitted comments to Canada’s Department of Finance as part of its pre-budget consultations in advance of Budget 2024. Our submission emphasized the necessity for Canada to build upon the inclusion of consumer-driven banking (CDB) in […]

FDATA North America: Comment Letter Submitted on CFPB’s Section 1033 NPRM

Contact: Laine Williams, (202) 897-4757, [email protected]  December 27, 2023 Washington, DC – The Financial Data and Technology Association of North America (FDATA), a trade association representing more than 30 financial technology companies and consumer-permissioned data access platforms in Canada and the United States, today filed a comment letter in response to the Consumer Financial Protection Bureau’s (CFPB) […]

FDATA North America Statement on Deputy Prime Minister Freeland’s FES Implementing Consumer-Driven Finance Directives

Contact: Laine Williams, (202) 897-4757, [email protected]  November 21, 2023 Washington, DC – The Financial Data and Technology Association of North America (FDATA), a trade association representing more than 30 financial technology companies and consumer-permissioned data access platforms in Canada and the United States, today applauded the inclusion of consumer-driven finance in the 2023 Fall Economic Statement (FES). […]

Submission by FDATA North America To the House of Commons Standing Committee on Industry and Technology (INDU) Regarding the Study of Bill C-27

October 31, 2023 – The Financial Data and Technology Association of North America (“FDATA North America”) is the leading trade association advocating for consumer-permissioned access to financial data in both Canada and the United States. Our members include firms with a variety of different business models that collectively provide more than six million Canadian consumers […]

FDATA North America Statement On The CFPB Proposed Rule Implementing Section 1033

October 19, 2023, Washington, DC – The Financial Data and Technology Association of North America (FDATA), a trade association representing three dozen financial technology and open finance companies, today celebrated the release of the Consumer Financial Protection Bureau’s proposed rule implementing Section 1033 of the Dodd-Frank Act. Steve Boms, Executive Director of FDATA, released the following […]

Coalition of leading industry stakeholders voice continued support for vital Canadian Payments Act amendments

OTTAWA, October 11, 2023 — The Fall Economic Statement presents an opportunity to modernize the Canadian Payments Act to strengthen financial competition, innovation, consumer protection and economic stability. Leaders across Canada’s payment industry continue to demonstrate unified support for amendments to the Canadian Payments Act to expand Payments Canada’s membership. This support was previously expressed through various pre-budget […]

FDATA North America Responds to CFPB Data Broker SBREFA Memo

September 21, 2023, Washington, DC – Steve Boms, the Executive Director of the Financial Data and Technology Association of North America, a consortium of financial technology companies united behind the notion that consumers and small businesses should have full control over their financial data, today released the following statement in response to the Consumer Financial […]

FDATA North America Submits Comments to Canada’s Standing Committee on Finance Pre-2024 Budget Consultations

Our submission included three recommendations and urged the government to take swift action on the open banking file, which has unfortunately fallen behind the previously established timeline.

FDATA North America Responds to CFPB Data Broker RFI

FDATA North America’s letter stressed that consumer-permissioned third-party financial service providers are not data brokers.

Video Member Spotlight: Portabl

This FDATA Member Spotlight features Nate Soffio, Co-Founder and CEO of Portabl.

Invest in FDATA and help us shape the future
FDATA is working on a series of webinars and an Open Finance podcast, bringing the discussion on the future of banking to the comfort of your home office. Watch this space for updates on our digital events.
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