Consumer Data Sharing
While consumers have more power than ever over the data they need to manage their finances, high-profile breaches and a lack of effective policy solutions raise critical questions about consumer privacy and protection. That’s why the Financial Health Network has created a set of principles to guide the financial services industry as it works to establish a secure, inclusive, and innovative data-sharing ecosystem.
Understanding Consumer Data Sharing and Financial Health
In our consumer data sharing work to date, the Financial Health Network has uncovered several key findings:
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The lack of an effective policy framework for financial data sharing in the U.S. creates industry uncertainty and inadequate protection for consumers.
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While bilateral agreements to share data through APIs provide security and reliability, access and protection for consumers can vary significantly.
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Businesses and regulators must collaborate not only to ensure that consumers have consistent, secure, and reliable access to their financial data, but also to support continued innovation in this area.
Featured Reports
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Consumer Data Sharing Principles: A Framework for Industry-Wide Collaboration
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Liability, Transparency and Consumer Control in Data Sharing
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Comment Letter to the CFPB Regarding Consumer Access to Financial Records
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Comment Letter to the CFPB’s Request for Information Regarding Use of Alternative Data and Modeling Techniques in the Credit Process
The Financial Health Network’s Data-Sharing Principles
Why Consumer Data Sharing is Important to Providers
Creating an effective framework for consumer data sharing will lead to a more secure and innovative financial services ecosystem, ultimately helping consumers achieve greater financial health.
How We Can Help
Through our research and membership base, the Financial Health Network provides insights and connects innovators seeking to develop policy and industry-led solutions to data sharing challenges.
Explore All Related Research
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2020 Branch Report
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Testimonial: CFPB Consumer Access to Financial Records Symposium
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Give Consumers Control of Their Financial Data
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Financial Health & Behavioral Change
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Webinar: The Role of Trust in the Financial Data Ecosystem
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Liability, Transparency and Consumer Control in Data Sharing
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A New Vision for Serving America’s Small Businesses
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The Financial Health Network Comment Letter to the CFPB’s Request for Information Regarding Use of Alternative Data and Modeling Techniques in the Credit Process
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The Financial Health Network Comment Letter to the CFPB Regarding Consumer Access to Financial Records
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Five Ways to Expand the Appeal of Your Financial Technology Product
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Consumer Data Sharing Principles: A Brief on the Framework for Industry-Wide Collaboration
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Consumer Data Sharing Principles: A Framework for Industry-Wide Collaboration
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The Financial Health Network Comment Letter on Payday, Vehicle Title, and Certain High-Cost Installment Loans
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Dispatch from D.C. — September 2016 – Full Report
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Dispatch from D.C. — September 2016 Executive Summary
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Big Data, Big Potential: Harnessing Data Technology for the Underserved Market
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Financial Technology Trends in the Underbanked Market
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National Community Tax Coalition (NCTC) Case Study
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The Predictive Value of Alternative Credit Scores
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Reaching Deeper: Using Alternative Data Sources to Increase the Efficacy of Credit Scoring
Connect With Thought Leaders
Interested in connecting with the Financial Health Network for a media interview, speaking opportunity, research or consulting request? Reach out and we’ll connect you with the right consumer data sharing expert.
Additional Research Topics
Financial health depends on a complex set of factors and circumstances. That’s why the Financial Health Network produces research in a variety of areas impacting our financial lives.