Open banking, which is designed to allow customers to easily share data held by their banks with third parties, has been attracting considerable attention in recent months. The Standing Senate Committee on Banking, Trade and Commerce conducted a study on open banking this spring with a report released in late June. I was invited to appear before the committee to discuss regulatory concerns, particularly with respect to privacy and data protection. Given that it is a holiday week in Canada for Canada Day, this week’s podcast adopts a different approach with excerpts from that appearance, including my opening statement and the ensuing discussion with several senators on the need for regulatory reforms.
The podcast can be downloaded here and is embedded below. A transcript of the appearance can be found here. Subscribe to the podcast via Apple Podcast, Google Play, Spotify or the RSS feed. Updates on the podcast on Twitter at @Lawbytespod.
Senate Report – Open Banking: What it Means for You
Transcript of Senate Standing Committee on Banking, Trade and Commerce
Senate Chamber, June 19, 2019
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