Canada Senate Committee Urges Speed On Open Banking Overhaul

Canadian officials are calling for an open banking infrastructure that will enable consumers to share their financial data securely with third parties, urging that such a system is up and running as quickly as possible.

The appeal came in a report released this week by the Standing Senate Committee on Banking, Trade and Commerce, which was tasked by the Canadian Senate last year with exploring the potential advantages and challenges in establishing open banking in the country.

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