Data transparency

A three-stage plan combining data analysis, public disclosure and market-based regulatory intervention would better align financial services with what consumers really need.

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

The financial services industry has struggled with how best to explain privacy and data-sharing practices to customers. Mastercard is offering a new framework.

Andres Wolberg-Stok at Citi and Sam Taussig at Kabbage debate openness, privacy, control, and how much say consumers should have over their banking information.

The Gramm-Leach-Bliley Act is a successful privacy law that ought to govern all financial services providers, not just banks.

A centralized rules-based system can produce insights into how staff pay when traveling, which can inform broader vendor management, contends Yash Madhusudan, co-founder and CEO of Fyle.

For four years running, consumer complaints about the three national credit reporting agencies — Experian, Equifax and TransUnion — have dominated the CFPB’s database. What do they keep doing wrong?

As CFPB mulls privatizing database, consumer complaints are on the rise; an argument for continued human oversight of artificial intelligence; how some banks are luring talent from big tech; and more from this week's most-read stories.

The bank is one of many to realize that artificial intelligence is only as good as the data fed into it.

The central bank said the supplemental document “provides significantly more information on the stress test models that are used to project bank losses, compared to disclosures from past years.”

Traditional compliance data handling tools and procedures are mostly not efficient enough to handle the mounting data in the right way, which makes the analysis extremely difficult, writes Srinivasan Pandurangan is senior manager of business consulting at Virtusa.

The law gives residents more — and welcome — control over their data. But it will take work for credit unions to meet the new requirements, such as possibly having to amend third-party vendor agreements.

The bureau's findings and request for information came after acting Director Mick Mulvaney had cited data security as a flaw at the agency.

It's good advice in any relationship context. SunTrust's Bryce Elliott wants transparency from his technology partners. "It's OK to tell me no."

Financial companies have less than a month to address a third round of cybersecurity requirements, the agency warned.

Under the Australian government’s direction, the country is implementing an open banking plan — but it's not going as far as the U.K. and EU have.

International banks are also having to adapt to a raft of regional payment and data regulations that impact their operations in certain territories significantly but in others only negligibly, according to Russell Bennett, chief technology officer of Fraedom.

Protecting customer data should have always been a priority for companies. With GDPR, they now have a framework for teams across the organization to adopt and protect their customer data, writes Shanthala Balagopal, a product marketing executive at Helpshift.

New European Union privacy rules could serve as a guide for U.S. banks.

New European Union privacy rules could serve as a guide for U.S. banks.