What Open Banking Means for Banks
Making Sense of the CFPB's Data-Sharing Proposal
The CFPB put out a proposal last fall for what's being called open banking, and it has been on my mind since. The idea is that clients should be able to share their financial data with third parties through secure APIs, and that banks should be required to make that possible. I read most regulatory proposals trying to picture what I'll eventually have to build. This one I read as someone who has spent years building data plumbing, and from that angle it's the most interesting thing to cross my desk in a while.



