US rolls out ‘open banking’ rules to make sharing financial data easier
One aim for the rules is to make it easier for customers to use third-party apps and also stimulate more competition among banks. The US has about 4,000 banks, which range from behemoths such as JPMorgan Chase with more than $2tn in deposits to local lenders with tens of millions of dollars in deposits.
'Open Banking' Rules for Consumer Data Unveiled by US Watchdog
Open Banking' Rules for Consumer Data Unveiled by US Watchdog By Douglas Gillison (Reuters) - The top U.S. watchdog agency for consumer financial protection on Tuesday unveiled long-awaited rules intended to drive a shift toward open banking and spur competition,
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