News Topic: Data privacy
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4 perspectives for bankers to note in the industry's data-sharing debate
CFPB to crack down on financial firms' protection of consumer data
HSBC to offer gender-neutral banking in bid for inclusivity
Discover’s new privacy feature automates a tedious task for customers
Banks are losing customers’ trust, but it doesn’t have to be this way
The carrots and sticks of open banking
Plaid, Royal Bank of Canada reach data sharing agreement
Let's make a safer web for digital banking, ex-regulator says
Scope of CFPB small-business loan data requirements worries banks
Biden calls for tougher reviews of bank mergers, urges data portability
EU wants banks to adopt digital wallet, but it's a tough sell
Banks balk at Biden plan to collect clients' tax data
How the CFPB can better regulate data sharing
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 ... Read full article
State data privacy laws pose compliance headaches for banks
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. ... Read full article
Can banks convince customers their data is safe?
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 ... Read full article
Databits: Fear, malaise, and eroding trust
How consumer attitudes toward privacy threaten to overturn long-standing industry assumptions about customer data and personalization. ... Read full article
CFPB sets stage for long fight on data-sharing rule
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. ... Read full article
Cannabis and gambling: State ballot measures that matter to banks
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. ... Read full article
Consumers have too little control over how their data is shared
Despite tougher privacy regulations, further safeguards are needed that require consumers' clear consent before personal information is exchanged. ... Read full article