John Pitts

The proposed data sharing rules could create opportunities for forward-thinking financial institutions to better serve their customers and meet ever-growing expectations for digital finance.

Banks should favor the development of U.S. data rules that let them freely share consumer information with, and receive it from, fintechs. The alternative, where banks merely send data to third parties for a fee, would be less competitive and less beneficial for all parties.

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs.

As the Consumer Financial Protection Bureau weighs rules on protecting customer information shared between banks and third parties, it should consider giving consumers full authority over their financial data and committing to direct oversight of everyone involved, including data aggregators and fintechs.

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection.

The Comptroller's Office has provided banks with guidance on how to structure relationships with data aggregators. Now the bureau needs to focus on the bank-consumer connection.