Amendments to Open Banking Laws
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Official record
Bill Summary - 24LSO-0257 Bill No.: HB0145 Effective: 7/1/2024 LSO No.: 24LSO-0257 Enrolled Act No.: HEA No. 0033 Chapter No.: 63 Prime Sponsor: Western Catch Title: Open banking-amendments. Has Report: No Subject: Open banking. Summary/Major Elements: Open banking allows a bank to provide customer data to third party financial service providers upon request of the customer in order to receive a product or service from the third party. This bill amends existing open banking laws to clarify that a customer is a natural person or an agent, trustee or representative acting on behalf of a natural person. The bill further clarifies that a bank participating in open banking shall limit the customer data it makes available to third parties to data that is necessary to receive the third party product or service. The above summary is not an official publication of the Wyoming Legislature and is not an official statement of legislative intent. While the Legislative Service Office endeavored to provide accurate information in this summary, it should not be relied upon as a comprehensive abstract of the bill.
Public statements
Last checked Aug 11, 6:23 PM
Why they voted this way
The lawmaker explains that the bill updates definitions to match federal agency changes and limits data access by banks to only what is necessary for a specific service, thereby protecting customer data.
If a lawmaker is not listed, we couldn't find a published reason.
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