Federal Rule May Allow Banks to Charge for Consumer Data Access

Your Bank Data Could Become A Profit Center - And You'll Pay the Price

Your Bank Data Could Become A Profit Center - And You'll Pay the Price Authored by Morgan Sweeney via The Center Square, A forthcoming federal rule on open banking may allow banks to charge new fees for access to consumer data, a move critics say would harm consumers and runs counter to other parts of President Donald Trump's agenda. Open banking allows consumers to authorize banks and other financial institutions to securely share their financial data electronically with third...

By Tyler Durden