021-30 Wyo. Code R. §§ 30-3 - Notice, Use, and Disclosure Requirements
(a) The Notice must
include the following:
(i) Sufficient
information such that the customer can identify the third-party that is
requesting the customer's data;
(ii) A brief description of the customer data
that is being requested from the third-party; and
(iii) Instructions on how a customer may
revoke their consent for their data to be shared.
(b) A bank participating in open banking
shall limit the accessible customer data to that which is reasonably necessary
for the customer to receive a product or service from the third-party financial
service provider.
(c) Prior to
participating in open banking, a bank shall conduct due diligence on the
third-party financial services provider to ensure that the bank is operating in
a safe and sound manner and in compliance with all applicable state and federal
laws and regulations.
(d) A bank
shall only provide access to the customer data that was disclosed in the Notice
and only to the third-party that was disclosed in the Notice.
Notes
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