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.
Browsing: Customer data access
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.
Sens. Crapo, Brown Seek Feedback on Data Privacy
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.
Sen. Crapo Previews Data Privacy Agenda for 116th Congress
Senate Banking Committee Chairman Mike Crapo (R-Idaho) today outlined the approach to data privacy and data security legislation he will continue to pursue during the 116th Congress.
Survey: Data Privacy Growing as Concern; Banks Seen as Trusted
In an era of frequent data breaches and growing concern over technology companies’ use of consumer data, nearly three-quarters of Americans said they are more concerned about their data privacy than they were a year before, according to a survey conducted by software company SAS.
New Credit Score Unveiled Drawing on Bank Account Data
Experian, FICO and Finicity today announced a new credit score, called the UltraFICO score, as part of a bid to ensure that creditworthiness is better reflected through credit scoring.
FS-ISAC Launches Framework to Address Secure Exchanges of Bank, Nonbank Data
As more consumers seek to use various nonbank fintech solutions that depend on bank-based data, the Financial Services Information Sharing and Analysis Center today launched Financial Data Exchange, or FDX, an organization that will facilitate the secure sharing of customers’ data.
ABA: Federal Data Privacy Law Must Recognize Banks’ Existing High Standards
Ahead of a Senate Commerce Committee hearing on consumer data privacy today, ABA in a statement submitted for the record called on lawmakers to consider the existing set of privacy laws banks adhere to when drafting new federal privacy legislation.
Banking’s Open Door Policy
Is open banking an aspirational slogan, a discrete business model or a regulatory regime?