Bank of Canada signalled further uncertainty around the rollout of open banking, with payments head Ron Morrow cautioning that timelines remain unclear. Speaking in Toronto, Morrow said officials are still compiling requirements before setting a launch date, making a 2026 debut doubtful.
Canada’s framework will mandate standardized data sharing at customer request and replace screen scraping practices Ottawa plans to ban. Oversight recently shifted from Financial Consumer Agency of Canada. The government pledged reforms under Prime Minister Mark Carney. Despite budget reductions, the central bank expressed confidence.
Want to know more? Check out the source code on The Logic.