Tag Archives: PSD2

The ACM’s guidance to address competition law concerns for FinTech in the creation of technical standards

Introduction On December 3, 2018, the Dutch Authority for Consumers & Markets (“ACM”) published a speech from its board member, Cateautje Hijmans van den Bergh, regarding potential competition law concerns in the financial technology (“FinTech”) sector. In particular, further to the European Parliament’s study on FinTech and competition law (the “Study”) – as discussed in a previous blog post – Hijmans … Continue Reading

Overlap Between the GDPR and PSD2

The Payment Services Directive (PSD2), which took effect on January 13, 2018, puts an obligation on banks to give Third Party Providers (TPPs) access to a customer’s payment account data, provided the customer expressly consents to such disclosure. The new legislation is intended to improve competition and innovation in the EU market for payment services. … Continue Reading

Open APIs: CFPB Comments and Legal Issues to Consider

Another major bank recently announced the launch of an open application programming interface (or “API”) platform  through which it will grant third-party software developers access to its APIs for a number of use cases, including peer-to-peer payments, reward redemptions and account summary access.  The announcement comes on the heels of prepared remarks by Consumer Financial … Continue Reading
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