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

New York A10640, also 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 imposing fees for data transfer to authorized parties. It also requires financial institutions to maintain a developer interface for data requests and to ensure data security. Authorized representatives must obtain express consent from consumers or small businesses to access data.

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

New York A10640, also 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 imposing fees for data transfer to authorized parties. It also requires financial institutions to maintain a developer interface for data requests and to ensure data security. Authorized representatives must obtain express consent from consumers or small businesses to access data.