Summary

The European Parliament and Council are urging member associations to accelerate progress on key regulatory frameworks to foster European competitiveness. They call on these organizations to prioritize the full evaluation of the Financial Data Access Directive before it becomes law, recognizing that such regulation affects every stage of the financial ecosystem. The European Banking Federation has joined this momentum by actively supporting the adoption of these guidelines. In return for this dedication, member associations will receive specific funding to assist with the assessment of their respective data governance strategies.

The European Parliament's stance emphasizes that these new laws must be implemented swiftly to prevent a delay in the broader Financial Data Access Directive. While the General Data Protection Regulation GDPR serves as the foundational rulebook, it requires immediate enforcement and implementation by all stakeholders in the financial sector to safeguard consumer rights and streamline digital banking operations effectively. This coordinated response ensures that legal protections are in place for data subjects, fostering trust while maintaining security standards across all EU financial institutions.

Title

The Financial Data Access (FiDA) Regulation

Description

Understanding the Financial Data Access (FiDA) Regulation, what it means to EU and non-EU entities

Keywords

data, european, access, regulation, service, providers, information, framework, products, sharing, services, institutions, council, protection, risk, proposal, compliance

NS Lookup

A 217.26.53.20

Dates

Created 2026-02-15

Updated 2026-02-15

Summarized 2026-03-22