Dan Murphy

Dan Murphy, founder of Sunset Park Advisors and former CFPB official with open banking policy experience, and Steve Boms, Executive Director of FDATA North America and fintech policy advocate, discuss Canada’s leap in open banking. They cover why Canada learned from other countries, the move from read-only to write access, regulatory design choices, liability and traceability, and how timing and market structure shaped reform.

Dan Murphy, Founder of Sunset Park Advisors and former CFPB official, shares his insider knowledge about the transformative journey of open banking regulations. He highlights the surprising bipartisan consensus that initially supported the rule and examines how JPMorgan's API fee strategy backfired, uniting various stakeholders against it. The conversation also delves into unresolved issues like data access fees, liability in cases of error, and the future of data portability in a rapidly changing financial landscape.

Join Steve Smith, co-founder and CEO of Invela with a rich background in open banking; Todd Taylor, a legal expert in technology transactions; and Dan Murphy, a former CFPB program manager, as they dissect the critical but often overlooked issues of risk and liability in data sharing. They explore why banks cling to outdated guidelines, the tension between consumer protection and regulation, and the pressing need for standardized accreditation. Their insights spark a discussion on how to navigate the evolving landscape of open banking.