October 18, 2017

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FSR: Data Sharing Should Be Pro-Consumer, Encourage Innovation and Security

New financial technologies, including those provided by data aggregators, hold tremendous promise for consumers.

FSR: Data Sharing Should Be Pro-Consumer, Encourage Innovation and Security
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FSR: Data Sharing Should Be Pro-Consumer, Encourage Innovation and Security

 

WASHINGTON – Following the Consumer Financial Protection Bureau’s (CFPB) release of principles on data sharing and aggregation, the Financial Services Roundtable (FSR) today thanks the CFPB for highlighting the importance of data security and transparency.

“New financial technologies, including those provided by data aggregators, hold tremendous promise for consumers,” said FSR’s Vice President of Government Affairs for Payments, Jason Kratovil.  “We appreciate that the CFPB’s principles on data aggregation recognize the critical importance of ensuring data is kept secure once it leaves a consumer’s financial institution, and that data aggregations is done in a transparent way to ensure consumer understanding of how their data is being used by third parties.”

FSR is at the forefront of FinTech advocacy and hosted its inaugural FinTech Ideas Festival earlier this year, bringing together the world’s leaders in finance and technology.

 

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About The Author

The Financial Services Roundtable represents the largest integrated financial services companies providing banking, insurance, payment and investment products and services to the American consumer. Member companies participate through the Chief Executive Officer and other senior executives nominated by the CEO. FSR member companies provide fuel for America’s economic engine, accounting for $92.7 trillion in managed assets, $1.2 trillion in revenue, and 2.3 million jobs.

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