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But key considerations are absent from the announcement The CBA has been vocal about the need for strict data se-
and the rule itself. curity standards associated with rulemaking around con-
sumer financial data rights and assessments of liabilities
"We are supportive of creating a framework for open in the event of data hacks.
banking but have some concerns that the final rule does
not prohibit screen scraping, nor [does it] lay out a frame- "Many nonbank third parties and data aggregators are not
work for establishing liability in the event of a hack," Scott subject to the same data security and privacy standards as
Talbott, executive vice president at the ETA, said in an banks, including normal course of business examinations
email to The Green Sheet. "Policymakers should view open by a federal agency, which leaves consumer data exposed
banking holistically – from benefits to defenses." to potential bad actors when it leaves a regulated and su-
pervised financial institution," the CBA wrote in a 2023
Screen scraping is a commonly used process for sharing fi- comment letter to CFPB.
nancial information. It involves a third party (for example,
a personal finance software tool) obtaining a customer's Any rules implemented by CFPB "must include a clear lia-
login credentials in order to "scrape" that user's account bility standard for all parties in the data access ecosystem,
information at various service providers. It can be risky, and liability for consumer recourse should be imposed on
however, as the consumer lacks control over what data is the party that was in control of the consumer's data at the
being "scraped," how frequently, or even whether or how time of the breach or action," CBA added.
long data is retained. As a result, some banks block screen
scraping.
Patti Murphy, self-described payments maven of the fourth estate, is
The ETA is not alone in expressing concerns about screen senior editor at the Green Sheet. She also co-hosts the Merchant Sales
scraping. The BPI-KBA lawsuit mentions it as well, as did Podcast, and is president of ProScribes Ink.
numerous large banks in comments submitted during the
CFPB's consideration of the new rule set.

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