Together with 11 of the nation’s largest banks, the Clearing House and Fidelity Investments today announced a new data-sharing network intended to give consumers greater control over how their financial data is shared with third-party providers.
With a new privacy law set to take effect Jan. 1 in California, the American Bankers Association today called on the state’s attorney general to make changes to a set of proposed implementing regulations to help financial institutions comply while ensuring consumer protection.
In a statement submitted for the record in tomorrow’s House Financial Services Committee fintech task force hearing, ABA highlighted the importance of protecting consumers when they choose to share their financial data with third parties.
Highlighting consumer demand for seamless digital delivery of financial services, FDIC Chairman Jelena McWilliams today emphasized the role of core banking technology companies in facilitating digital transformation.
ABA has joined the Financial Data Exchange, the exchange announced today.
As consumers become increasingly concerned about privacy and data security, building trust with customers is paramount for successful companies, according to a new global survey from Verizon and Longitude.
During an FDIC conference in Arlington, Va., today, Treasury Secretary Steven Mnuchin offered his thoughts on consumers’ ability to share their financial data with third parties and data aggregators.
The nation’s CEOs were less confident about the future economic outlook than they were in previous quarters, according to the latest Business Roundtable CEO Economic Outlook Index released today.
Responding to a request for feedback on consumer privacy legislation from Senate Banking Committee Chairman Mike Crapo (R-Idaho) and Ranking Member Sherrod Brown (D-Ohio), ABA today emphasized banks’ strong privacy and data security framework under the Gramm-Leach-Bliley Act and called for Congress to take an approach that ensures consistent privacy protections while promoting marketplace efficiency.
Sens. Mike Crapo (R-Idaho) and Sherrod Brown (D-Ohio) — the chairman and ranking member of the Senate Banking Committee, respectively — today asked for stakeholder feedback on how financial regulators and companies collect, use and protect sensitive consumer data.