FDATA North America and Allon Advocacy have appointed Dan Murphy, formerly of the Consumer Financial Protection Bureau (CFPB), to consult on Open Finance issues.
Murphy has experience on the policy, technical, and market considerations related to these issues, having spent the past three years working at the CFPB as Open Banking program manager, where he was part of the team that wrote the agency’s Section 1033 rulemaking.
Dan Murphy, former Open Banking program manager at the CFPB
FDATA North America confirmed that Murphy will be sharing his “perspectives and in-depth knowledge” with its members.
The CFPB finalised the Personal Financial Data Rights rule in October last year, under which, financial institutions, credit card issuers, and other financial providers will be required to “unlock” an individual’s personal financial data and transfer it to another provider at the consumer’s request for free.
At the time, the CFPB said the new rule “moves” the US closer to “a competitive, safe, secure, and reliable” Open Banking ecosystem.
Steve Boms, founder and president at Allon Advocacy, and executive director FDATA North America, said: “Having long admired Dan’s intellect and thoughtfulness on consumer finance issues generally, I’m delighted that our Open Finance clients will have the opportunity to benefit from his incredible subject matter expertise moving forward.”
In a post on LinkedIn, Murphy wrote: “While I consider my next full-time adventure I’m taking on some part-time advisory clients, starting with Steve Boms and his clients at Allon Advocacy, LLC, who have always impressed me with their depth of knowledge on policy and dedication to making Open Banking work.”
Murphy and Boms are both speaking at Open Banking Expo USA on June 26, at the Hilton Midtown in New York. Find out more about the agenda, speaker line-up and how to get your ticket here.
