The Financial Technology Association appreciates the opportunity to respond to this advance notice of proposed rulemaking and request for public comment issued by the United States Federal Trade Commission regarding a Trade Regulation Rule on so-termed “Commercial Surveillance” and “Data Security.”
Subject to responsible, consumer-permissioned use of financial data, FTA believes that financial technology holds substantial promise in enhancing consumer and small business financial access, and promoting inclusive and equitable economic growth. FTA welcomes the FTC’s proactive public engagement on data use and security, and focuses this comment on ensuring that future policy frameworks are consistent, comprehensive and capable of advancing further consumer-centric safeguards and innovation.