“Consumers should remain in control of the data they provide,” Fed governor Lael Brainard said in remarks prepared for a University of Michigan conference. “Consumers need to know and decide who they are contracting with, what data of theirs is being used by whom and for what purpose, how to revoke data access and delete stored data, and how to seek relief if things go wrong.” Ms. Brainard’s prepared remarks didn’t address monetary policy. The Obama administration appointee, who sits on the Fed’s Washington governing board that sets rules for banks, focused on a number of ways in which new financial products may not be doing enough to protect consumers.

https://www.wsj.com/articles/federal-reserve-official-consumers-need-control-of-their-financial-data-1510864841