Bloomberg reports 25 of the largest banks in the U.S. want to make it easier for financial-technology startups to access consumer financial data. The Clearing House has developed a template for lenders to sign data-sharing agreements with startups, which would lessen a process that can take a year or more. Data company Plaid has raised concerns over the proposal. “Many elements of the agreement put the consumer in the back seat by restricting access to their data and limiting their choices in how they use it,” Plaid Head of Business Development and Strategy Sima Gandhi said. (Registration may be required to access this story.)
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