The US consumer watchdog wants to know who can see your bank data, and who pays for it

The US consumer financial watchdog is asking for public comments on how to implement a law that lets people share their financial data. They want to know who can act on a consumer's behalf, who pays for data access, and how to handle security and privacy.

A 2010 law said consumers own their financial data, but it never explained how they could actually use it. This document starts the process of defining the rules for sharing that data. It will decide whether consumers can easily move their financial information between banks and apps, or if banks can make it difficult and expensive.