News Topic: customer data

As the agency pulls back its enforcement efforts, it opens the door for state authorities to pursue more cases against financial startups for their data collection and privacy practices. ... Read full article

Readers opine on the prospect of regulatory relief, weigh in on the need for regulators to become more tech savvy, react to HSBC hopping back into U.S. mortgage lending and more. ... Read full article

The World Economic Forum announced on Tuesday an effort designed to strengthen fintech cybersecurity. ... Read full article

Sen. Elizabeth Warren released a scathing report Wednesday on Equifax's handling of the data breach last year, part of an effort to gain backing for legislation to rein in the credit bureaus. ... Read full article

The data-sharing directive has gotten off to a rocky start overseas, underscoring the need for domestic banks to start educating customers about the model well before it’s adopted stateside. ... Read full article

How do you eliminate "pain points" in the banking experience, increase wallet share and improve loyalty? Companies like Ally, Bank of the West and USAA are believers in tracking the customer journey to find the answers. ... Read full article

Bankers would like to take advantage of digital marketing tools that target customers similar to their own, but there are persistent fears that doing so could make financial institutions run afoul of regulatory restraints. ... Read full article

Elizabeth Warren takes acting CFPB director Mick Mulvaney to task over his decision on data collecting; B of A gets heat from harrassment reveal and free checking halt; and more. ... Read full article

Despite impending data requirements, many small banks are still struggling with automating loan risk calculations. ... Read full article

Twenty-two trade groups, including seven financial trade groups, sent a letter to House lawmakers calling for new data security standards that would preempt state law. ... Read full article

EU banks will soon start sharing customer account data with all third parties their customers approve. Very few U.S. banks have latched on to this concept. Here’s why. ... Read full article

Acting director Mulvaney has major concerns about cybersecurity at the agency; the commission says a Canadian company's initial coin offering is a 'scam.' ... Read full article

The CFPB's data-sharing guidance was widely applauded, but mistrust remains between banks and aggregators. Advocates want regulators to take action. ... Read full article

Additional data such as college major enhances the ability to provide credit to thin-file consumers. But could it create other issues? ... Read full article

While the Consumer Financial Protection Bureau was careful to note that the principles were not binding, the industry should still adopt the guidelines going forward. ... Read full article

Ditching paper and digitizing tasks help community banks operate more efficiently and write more profitable commercial loans. ... Read full article

Cybersecurity and breach notification procedures have caught the most public attention following the massive hack at Equifax, but lawmakers are also interested in the accuracy of credit reports. ... Read full article

Some banks are looking at how to translate the complicated and document-heavy mortgage lending process into the digital world of voice interactive personal assistants. ... Read full article