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He said that agreements like those Intuit recently struck with the banks would speed up the movement of data

2017-03-25 0 Dailymotion

He said that agreements like those Intuit recently struck with the banks would speed up the movement of data<br />but give the banks too much control over the data flowing to companies like Personal Capital.<br />Banks like JPMorgan Chase and Wells Fargo say they want to give people access to their data<br />but are seeking new rules in response to the lack of standards for how technology companies handle it.<br />Some of the banks have said they do not want to share the interest rates and fees<br />that they charge customers, even when customers ask for that information to be passed along, said Steve Boms, the vice president for government affairs at Yodlee.<br />Mr. Harris, who was previously the chief executive at Intuit and PayPal, said<br />that many banks publicly say they are sharing data while making it hard, behind the scenes, for companies like Personal Capital to get access to it.<br />The banks say they are pushing for new data agreements in an effort to stop technology companies from getting access to customer data in ways<br />that the customers might not understand, or that could create security risks.

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