OCC Issues FAQs on Third-Party Risk Management
The OCC today clarified its expectations for banks’ management of relationships with third-party providers, including fintech firms, cloud services providers and data aggregators.
Browsing: Customer data access
New Industry-Led Data Sharing Network to Offer Greater Security of Consumer Data
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.
ABA Calls for Changes to California Data Privacy Regulations
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.
ABA Issues Recommendations to Promote Responsible Financial Data Sharing
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.
McWilliams: Core Processors ‘Must Evolve’
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 Joins FDX to Advance Industry-Led Data-Sharing Standard
ABA has joined the Financial Data Exchange, the exchange announced today.
Study: Consumers Increasingly Concerned with Data Security, Privacy
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.
Treasury’s Mnuchin Weighs In on Data Aggregation
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.
CEOs’ Confidence in Economy Softens
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.
ABA Emphasizes Banks’ Commitment to Consumer Privacy
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.