The Consumer Financial Protection Bureau has released a set of principles for consumer-authorized financial data sharing and aggregation, designed to foster responsible innovation within the financial marketplace while protecting consumers and stakeholders.
The principles cover details related to data access, data scope and usability, data control and informed consent, payment authorizations, data security, transparency on data access rights, data accuracy, accountability for access and use and disputes and resolutions regarding unauthorized access.
Learn more specifics about what the principles state and what research went into their creation.