Envestnet’s Yodlee, Quovo and Morningstar’s ByAllAccounts have come together to establish a data sharing framework with banks and fintechs; the framework is based on four core principles, consumers must be able to access information on trusted apps, consent must be given and must be clear, whoever handles data must adhere to security and transparency standards and whoever is responsible for the financial loss must take care of the consumer; the framework looks to provide some clarity on parts of the CFPB guidelines which were seen as too vague; as open banking an data sharing become more commonplace clear guidelines are need for all parties to adhere to. Source.