Data privacy rules

In announcing plans to export Just Walk Out to other retailers, Amazon rattled the emerging autonomous checkout industry and raised questions about its ability to amass even more data than it already has about consumer consumption patterns.

The challenge has been aligning the data-sharing ecosystem in a way that simplifies access and enhances consumer control while ensuring a high level of security, says Finicity's Steve Smith.

Recent proposals considered or passed by legislatures around the country grant banks certain exemptions, but they differ from state to state and may pose new compliance headaches.

The U.S. banking system risks being left behind by the European Union and the United Kingdom when it comes to open banking.

Liability for missteps by vendors, jurisdictional headaches tied to locations of servers and legacy technology are other potential impediments.

Banks in the U.S. should take note of these requirements before opening their systems to third-party developers.

The current climate is akin to the Wild West, with little protection for the consumer, and new regulations are needed if the technology is to continue to expand in a safe and sustainable way, argues Mitek's Stephen Ritter.

Banks are increasingly sharing data and must brace for new regulations protecting that data.

Consumer identities are becoming increasingly digital and more prone to privacy risks. Lawmakers cannot sit idle.

Consumer identities are becoming increasingly digital and more prone to privacy risks. Lawmakers cannot sit idle.

Facebook’s cryptocurrency would not help underserved communities, despite the claims of its CEO, who is slated to appear before Congress this week.

Facebook’s cryptocurrency would not help underserved communities, despite the claims of its CEO, who is slated to appear before Congress this week.

The state's Democratic-controlled Legislature has enacted laws establishing data privacy rights, giving municipalities the ability to set up public banks, and requiring standardized disclosures on small-business loans, among other issues. Lawmakers elsewhere are taking notice.

Congress should consider acting quickly or companies could treat the Golden State's new data privacy restrictions as a national standard.

Congress should consider acting quickly or companies could treat the Golden State's new data privacy restrictions as a national standard.

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies.

The Financial Action Task Force’s recent guidance on data privacy regulations should serve as a warning to companies planning to test virtual currencies.

Banks and third parties must work together to safeguard data being shared when a customer uses mobile apps.

Banks and third parties must work together to safeguard data being shared when a customer uses mobile apps.

The California Consumer Privacy Act goes into affect next year and other states are likely to follow suit. Credit unions need to evaluate their data management practices.