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.
