Blocked: Why Some Companies Restrict Data Access to Reduce Competition and How Open APIs Can Help

By: Daniel Castro and Michael Steinberg | November 6, 2017 | Center for Data Innovation Over the past few years, some scholars, advocates, and policymakers have argued that businesses which possess large quantities of data, such as social media companies, present inherent competition concerns.1 These concerns are misplaced for a number of reasons, one being

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A CFPB policy everybody seems to like (really)

By Penny Crosman | October 20, 2017 | American Banker The Consumer Financial Protection Bureau’s entrance into the battle between banks and fintechs over customer information appears to have done something remarkable by largely pleasing both sides. Banks have welcomed the statement of principles because they are non-binding, while fintechs are encouraged by the CFPB’s

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CFDR Group Response to CFPB Principles For Consumer-Authorized Financial Data Sharing and Aggregation

On October 18, the Consumer Financial Protection Bureau (CFPB) outlined principles for consumer-authorized financial data sharing and aggregation. Below are statements from the Consumer Financial Data Rights (CFDR) group in response to the CFPB announcement:  “The CFDR group and its 35 member companies applaud the Consumer Financial Protection Bureau’s (CFPB) publication of thoughtful principles regarding a consumer’s ability to share their financial data through third-party tools that can

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