2024 24LSO-0257
STATE OF WYOMING Working Draft
0.3
DRAFT ONLY
NOT APPROVED FOR
INTRODUCTION
HOUSE BILL NO.
Open banking-amendments.
Sponsored by: Select Committee on Blockchain, Financial Technology and Digital Innovation Technology
A BILL
for
1 AN ACT relating to banking; defining who is a customer for
2 purposes of open banking; limiting the release of customer
3 data through open banking as specified; and providing for
4 an effective date.
5
6 Be It Enacted by the Legislature of the State of Wyoming:
7
8 Section 1. W.S. 13-1-801(a) by creating a new
9 paragraph (iv) and 13-1-802(b) as created by 2023 Wyoming
10 Session laws Chapter 87 Section 1 and effective July 1,
11 2024 are amended to read:
12
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1 13-1-801. Definitions.
2
3 (a) For purposes of this article:
4
5 (iv) "Customer" means a natural person or an
6 agent, trustee or representative acting on behalf of a
7 natural person.
8
9 13-1-802. Open banking authorized; regulation
10
11 (b) A bank participating in and providing for open
12 banking shall comply with all applicable state and federal
13 laws and regulations including laws and regulations related
14 to the protection and use of customer data. Prior to
15 providing access to any customer data under this section
16 the participating bank shall obtain a customer's express
17 written consent. The customer data made accessible to a
18 third party financial service provider shall be limited to
19 that which is necessary for the customer to receive a
20 product or service from the third-party financial service
21 provider.
22
23 Section 2. This act is effective July 1, 2024.
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1
2 (END)
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Statutes affected:
24LSO-0257 v0.3: 13-1-801, 13-1-802