CFPB to Issue ANPR on Data Access Rights
The Consumer Financial Protection Bureau will issue an advance notice of proposed rulemaking later in the year on consumer-authorized access to financial records, according to an announcement today.
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ABA: Banks Need Consistent Framework for Adopting AI Technologies
In a letter to the Office of Management and Budget, the American Bankers Association called for regulatory clarifications that would facilitate the adoption of artificial intelligence technologies by banks.
Fed Releases CRA Data Tables
As previewed in a speech earlier this year by Federal Reserve Governor Lael Brainard, the Fed today published new Community Reinvestment Act analytics data tables.
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 Outlines Key Elements for Inclusion in Federal Data Privacy Legislation
Ahead of a Senate Commerce Committee Hearing today, the American Bankers Association submitted a statement for the record outlining several key elements that should be included in potential data privacy legislation.
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.
EEOC Intends to Drop Pay Data Collection Requirement
The Equal Employment Opportunity Commission announced this week that it does not intend to renew its authority to collect data on employees’ pay and hours worked (known as Component 2 Data) after that authority expires
How Humanized Marketing Earns Customers for Life
Today banks have the capacity to recreate the lifetime relationships that used to be the norm in banking. And if they want customers to stick around—even when they get offered a slightly better interest rate somewhere else—most banks need to put a heavier focus on communications. They must continually demonstrate to customers that they have offerings to meet their present and future financial needs, no matter what life stage they’re in.
ABA Calls for Uniform National Privacy Standards
Ahead of yesterday’s House Energy and Commerce Committee hearing and today’s Senate Commerce Committee hearing — both on data privacy — ABA submitted statements for the record urging lawmakers to enact uniform national privacy standards that preempt the existing patchwork of state laws.