Data privacy

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.

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

With many impacted businesses still not ready to comply with the now enforceable CCPA, CPRA affected payment processors should start preparing for this new piece of legislation, says Abine CEO Rob Shavell.

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.

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

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.

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

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

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.

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

Consumers are right to worry about data mismanagement. But there are ways to benefit from analytics while respecting privacy, says Cape Privacy's Ché Wijesinghe.