News Topic: Data ownership

Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged. ... Read full article

The financial services industry has struggled with how best to explain privacy and data-sharing practices to customers. Mastercard is offering a new framework. ... Read full article

The bank is one of many to realize that artificial intelligence is only as good as the data fed into it. ... Read full article

A paper released by the agency’s Center for Financial Research says aspects of someone’s digital footprint — including whether they use Apple or Android — help predict likelihood of default. ... Read full article

Capital One's dispute with Plaid raised questions about the ability of banks and aggregators to work together. But the end of that fight, and Capital One's deal with Finicity, show common ground can be reached — eventually. ... 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

Even though they do not face the immediate prospect of regulation requiring an open-banking policy, American banks should act as if they do. ... 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

The companies will use an application programming interface to let Chase customers send the data to the apps Finicity supports, including personal financial services apps and income verification tools. ... Read full article

By making it easier and safer to share data with third parties, Wells Fargo's Brett Pitts says he is strengthening the bank's relationships with customers. ... Read full article

Europe is debating whether to ban screen scraping, a practice that fintechs count on as a last resort. Innovation is at stake. ... Read full article

With the reversal of Obama-era rules requiring user consent for data collection, it is more important than ever for U.S. banks and fintechs to demonstrate a robust and consistent approach to data privacy. ... Read full article

The battle over screen scraping seems to be subsiding into a series of agreements between banks and fintechs using open APIs. ... Read full article

American Banker readers share their views on the most pressing banking topics of the week. Comments are excerpted from reader response sections of AmericanBanker.com articles and our social media platforms. ... Read full article

The industry needs to establish a clear set of rules and standards so safe and secure financial data access and sharing continues unrestricted. ... Read full article

By partnering with Intuit, Wells Fargo is continuing its journey toward API-based data sharing, and away from screen scraping. ... Read full article

The president's executive order reflects a lack of trust in the identity information shared between countries. In theory, blockchains are tailor-made to solve this problem, but current systems may not be up to the task. ... Read full article

The deal points a way forward, not only to resolve the debate over screen scraping and ownership of customer data but to redefine banks' value proposition. ... Read full article