Submitted by Richard Case on Thursday 23rd November 2023
Published on Wednesday 17th January 2024
Current status: Open
Open until: Wednesday 17th July 2024
Current Signatures: 22
(count is updated approximately hourly)
Relevant Departments
Review whether FCA rules favour large corporations & change open banking rules
We believe that the rules of the Financial Conduct Authority (FCA) are biased toward large corporations, and this should be reviewed by Government.
One example is the FCA authorisation required to use the open banking APIs which is costly, time-consuming and complicated. We consider that this effectively excludes small businesses from using the APIs directly because access is only cost-effective through large corporation intermediaries. We would like Government, in this example, to ensure small businesses can access open banking APIs, and anybody can access their own banking data directly, for free and without a difficult authorisation process.
If you want to sign this petition (as opposed to merely discuss it), you need to do that on the government's e-Petitions website.
3.21.162.87 Thu, 02 May 2024 06:16:24 +0100