New York A10640 ensures consumer and small business financial data accessibility and prohibits fees for data transfer.

New York A10640, known as the "New York financial data rights act," mandates that financial institutions provide consumers and small businesses with their financial data in a secure, electronic, and machine-readable format. The bill prohibits financial institutions from charging fees for transferring this data to authorized parties. It defines "covered data" as transaction information, account balance details, payment initiation data, terms and conditions, upcoming bill information, and account verification details.

New York A10640 ensures consumer and small business financial data accessibility and prohibits fees for data transfer.

New York A10640, known as the "New York financial data rights act," mandates that financial institutions provide consumers and small businesses with their financial data in a secure, electronic, and machine-readable format. The bill prohibits financial institutions from charging fees for transferring this data to authorized parties. It defines "covered data" as transaction information, account balance details, payment initiation data, terms and conditions, upcoming bill information, and account verification details.