Data privacy

The data aggregator announced a product this week that allows banks to build data privacy portals, where consumers can see who has access to their account data.

With many consumers using online banking and mobile apps and consenting to data sharing without truly understanding what this means, the discussions around open finance are becoming more intense.

The Consumer Financial Protection Bureau said a company doesn't need to experience a data breach for the agency to consider taking action.

HSBC Holdings' U.K. unit is planning to stop collecting data on the gender of its customers across some products as the bank pursues more inclusive services for nonbinary and trans people.

The digital bank and credit card company is hoping to drive more people to its mobile app with the addition of Online Privacy Protection, a service that removes personal data from people-search sites.

Traditional banks already have the tools they need to win back consumers’ confidence, but they need to be smart about deploying them.

At American Banker's Digital Banking Conference, experts discussed the benefits and budding regulatory efforts around increased data sharing among banks and fintechs.

The deal advances Plaid’s standing as an aggregator of Canadian consumers’ banking data as the country weighs regulations of such activity.

Thomas Vartanian, a banking lawyer and former federal regulator, has co-founded the Financial Technology & Cybersecurity Center to address a fundamental question: Is the internet the right tool for the job of modern banking?

The agency proposed reporting standards for any institution that originates 25 or more small-business loans a year. The measure would be especially burdensome for very small lenders and could limit credit access in underserved communities, critics say.

The White House is calling on the Department of Justice and federal regulators to give bank deals more scrutiny as part of a broader executive order meant to encourage competition across the U.S. economy.

The initiative would standardize and expand security, but marketing restrictions weigh against the business case for adoption.

A proposal still in the early stages to have banks report on customers’ account activity to help the government nab tax evaders is being panned by the industry as overly burdensome and a privacy threat.

The social network and PayPal are both urging consumers to take steps to prevent transactions from displaying the user's physical address.

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.

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.

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.

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.

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