Data privacy

How the CFPB can better regulate data sharing

03/10/21

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs.

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State data privacy laws pose compliance headaches for banks

03/08/21

New measures in California and Virginia give consumers more control over their information and may prevent banks from using geolocation services or analyzing personal data without obtaining consent first — except when preempted by federal law.

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Can banks convince customers their data is safe?

03/02/21

Less than half of consumers believe financial services providers adequately protect their personal information, according to an Arizent survey. Banks such as Wells Fargo and Bank of Idaho are offering mobile tools and cybersecurity education that could help rebuild trust.

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Databits: Fear, malaise, and eroding trust

03/02/21

How consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization.

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CFPB sets stage for long fight on data-sharing rule

11/12/20

As it attempts to craft policy on access to consumers’ financial account information, the agency is wading into a battle between those who want data to flow more freely and those who prioritize security.

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Cannabis and gambling: State ballot measures that matter to banks

11/04/20

Referendums that legalized marijuana and sports wagering in several states could incentivize banks to do business with companies in these sectors. Payday loan and privacy measures that passed Tuesday also have implications for the industry.

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Consumers have too little control over how their data is shared

11/04/20

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

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CFPB developing proposal on who can access customer data

10/22/20

The rulemaking is expected to draw enormous interest from both banks and third-party fintech providers.

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Wells Fargo says it has nearly eliminated screen-scraping threat

09/24/20

The company's new agreement with Envestnet Yodlee to share customers' account data over secure pipes is its 17th pact with aggregators and other fintech firms.

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Week ahead: More uncertainty after Ruth Bader Ginsburg's death

09/21/20

Credit union issues could struggle to gain traction as lawmakers battle over a replacement justice.

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