Feds release proposed open banking regulations

Canada took another step toward its long-awaited open banking system today with the release of proposed regulations. The news: The Department of Finance published draft open banking regulations on Friday that would govern how the long-awaited financial data-sharing system would work in Canada. The proposed rules, which outline how FinTechs can participate and what data banks would be required to share with them, are open for a 60-day public consultation period.