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In February 2024, Piermont Bank and Sutton Bank each became subject to consent orders issued by the Federal Deposit Insurance Corp.
BaaS, fintech, consent, regulation, AML
Marissa Daniels, Senior Associate at Torys, discusses the budding progress of Open Banking in Canada, its regulatory pathway, partnerships, and rules, as the country eagerly awaits an Open Banking framework.
Open Banking, financial data, financial institutions, financial inclusion, data privacy, online security, API, fintech, banks, consent, cybersecurity, regulation