According to Politico the European Commission will abandon plans to introduce open finance (‘financial data access’) rules, as proposed in the draft Regulation on a framework for financial data access (FIDA Regulation), read Brussels U-turns on plans for more consumer financial data access.

Although open finance is sold with the narrative that it is in the interest of citizens/consumers, in reality it is an opportunity for big business to get hold of detailed behavioural data of every citizen and small organisation.

Read all the articles on FIDA on this site.