In the past year, topics surrounding consumer controls and how data can be used came front and center. First, there was GDPR, the European mandate for how companies must protect personal data. Soon after, the California Consumer Privacy Act (CCPA) came into effect in the United States. The summer and fall of 2018 brought weeks of U.S congressional hearings digging into how consumer data is used by tech and social media giants.
We’ve entered the first phase of a new era of data regulation and given the highly sensitive data that financial institutions and fintechs handle, financial services as we know may it may soon be forever changed.
Read the full article on Forbes here.