<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=142903126066768&amp;ev=PageView&amp;noscript=1">

Is Your Bank Ready for GDPR? It's Coming May 25

By Sandy Baker on May 16, 2018 3:30:00 AM

The General Data Protection Regulation (GDPR) is perhaps the most important and significant change occurring in terms of bank regulation changes this year. On May 25,  this new framework will establish very specific rules for handling, access, and protecting personal data. It applies only to European Union residents, but the implications are far-reaching. As you work to advance your data usage to improve business operations, it will be very important for banks to also put in place these compliance requirements.
Continue Reading

CFPB RFI Around Consumer Access To Financial Records Draws The Battle Lines Between FIs And Aggregators

By Jeff Meredith on Mar 2, 2017 4:40:47 PM

On November 14 the Consumer Financial Protection Bureau (CFPB) announced an inquiry into the challenges consumers face in accessing, using and securely sharing their financial records. This came on the heels of CFPB director Richard Cordray telling a Money 20/20 audience in October that the agency believes consumers should be able to access their financial data and give permission for third party companies to access it as well. The bureau was acting in the wake of high profile cases where banks — including Wells Fargo, JPMorgan Chase and Bank of America — cut off access to third-party sites and apps like Mint. 

Topics: Regulation
Continue Reading

Dodd-Frank, DOL Fiduciary Rule On The Chopping Block

By Jeff Meredith on Feb 3, 2017 5:27:40 PM

On Friday President Donald Trump signed an executive order calling for his administration to review the Dodd-Frank Wall Street Reform and Consumer Protection Act and issued a memorandum to delay — and potentially cancel — the Department of Labor’s Fiduciary Rule.

Topics: Regulation
Continue Reading