Data Portability Issues In US Foreshadow Challenges In EU

By Chris Hydak, United Services Automobile Association (April 14, 2017, 1:50 PM EDT) -- While multinational and EU businesses begin to ponder the substance and the scope of the requirement to provide "data portability" under Article 20 of the General Data Protection Regulation, which takes effect in May 2018, U.S. financial institutions and data aggregators have been actively debating and shaping the contours of data portability for close to a decade. Data aggregators, companies that compile information from consumers' financial accounts and provide financial planning tools such as budgeting calculators, have been attempting to obtain easier and streamlined access to consumer data from financial institutions for years. Financial institutions, for their part, have been reluctant...

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