Banking Dive: Executive orders target financial data sharing

President Joe Biden signed executive orders Friday aimed at promoting U.S. competition by providing more scrutiny of bank mergers and giving consumers greater control over their financial data. The order includes support for open banking regulations, allowing data sharing among financial services companies to foster a more convenient and transparent consumer experience. The White House said the order will “make it easier and cheaper to switch banks by requiring banks to allow customers to take their financial transaction data with them to a competitor.”

You can read about it at Banking Dive.