The Consumer Financial Protection Bureau (CFPB) recently issued a request for information (RFI) about data scrapers, data aggregators, and other Fintech third parties with whom consumers may want to share their financial records. There is a growing array of services and companies that use consumers’ financial records to offer innovative products and services, such as financial management tools. In order to provide these products and services, these companies seek access to process consumers' financial records maintained by traditional financial institutions, such as banks. With this RFI, the CFPB seeks to understand how much control consumers have over their records and how easy and secure it is for consumers to share their records with these third parties.

The CFPB's purported goal is to foster an environment where competing companies can securely obtain, with consumers' permission, the information needed to deliver these products and services. However, if the CFPB is considering issuing regulations in this area, it also needs to consider the potential harm to consumers posed by sharing consumer information with these Fintech companies.

In this webinar, we will:

  • provide an analysis of the current state of the industry;
  • discuss the CFPB's areas of interest; and
  • provide an analysis of public comments that have been submitted in response to the CFPB's RFI.

Date & Time

Thursday, March 16, 2017
12:00 PM - 1:00 PM ET

Moderator

Alan S. Kaplinsky
Practice Leader
Consumer Financial Services Group

Speakers

Kevin D. Leitão
Consumer Financial Services
Privacy and Data Security

Kim Phan
Consumer Financial Services
Privacy and Data Security

Roshni Patel
Consumer Financial Services
Privacy and Data Security

This program is open to Ballard Spahr clients and prospective clients and members of the financial services industry. There is no cost to attend. This program is not eligible for CLE credits.

Please register at least two days before the webinar. Login details will be sent to all approved registrants. For more information, contact Daniel Martin at martind@ballardspahr.com

Register