Data sharing

Facebook is seeking customer data from big banks. Executives say it's not clear what the benefit would be, but the drawbacks are easy to tally.

Readers weigh in on the Federal Housing Finance Agency's leadership structure, react to a recent data-sharing debate, opine on whether banks should let consumers use their credit cards to buy bitcoin and more.

Banks should more widely adopt application programming interfaces for sharing customer data with third parties because it's the best approach to ensuring information stays safe.

Other aggregators came to the bank's defense, while one CEO suggested Plaid's very public protest was unfounded.

The virtual card company is giving customers direct access to their data through an application programming interface to see what they do with it.

One firm's inability to access bank data shows how fragile fintechs can be; payments processor Square quietly withdraws bank application; turnover of chief risk officers is on the rise; and more from this week's most-read stories.

Readers weigh in on inequality in financial services, opine on falling bank reputations, chime in on the evolving role of the chief risk officer and more.

Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access.

A new standard would make financial apps work together the way iPhone apps do. Twelve large banks, including JPMorgan Chase, Morgan Stanley and RBC, are already using it.

Whatever the reason that Plaid, a prominent data aggregator, can no longer access data from Capital One, the situation demonstrates how fragile fintechs are when they lose banking access.