Government & Regulations
Explore the legislation, proposed regulations, policy framework and regulatory oversight supporting Consumer-Driven Banking in Canada.
Official government resources
Start with these official resources for the latest legislative, regulatory and implementation information.
Justice Laws Website
Consumer-Driven Banking Act
The federal legislation establishing Canada's Consumer-Driven Banking Framework. It addresses governance, participation, accreditation, consent, liability, security, complaints, technical standards, enforcement and regulatory oversight.
- Legal framework
- Participant obligations
- Consumer protections
Canada Gazette, Part I
Consumer-Driven Banking Regulations
Proposed regulations intended to operationalize the Act. They provide additional requirements for areas such as accreditation, security, consent, authentication, reporting, record keeping and national security reviews.
- Published June 27, 2026
- Accreditation requirements
- Operational rules
Bank of Canada
Consumer-Driven Banking Oversight
Information about the Bank of Canada's role in administering the framework and supervising participating financial institutions, credit unions, payment service providers, fintechs and third-party service providers.
- Supervisory approach
- Participant oversight
- Implementation updates
Department of Finance Canada
Canada's Consumer-Driven Banking Framework
A policy overview describing the framework's governance, scope, accreditation model, common rules, technical standards and plans for future phases, including consideration of expanded functionality.
- Governance model
- Framework scope
- Future phases
How the regulatory framework fits together
Canada's model combines federal legislation, detailed regulations, regulatory supervision and a common technical framework.
Legislation
The Consumer-Driven Banking Act establishes the legal foundation, powers, responsibilities, protections and obligations that support the framework.
View legislationRegulations
Regulations provide detailed requirements needed to administer and operationalize the broader obligations established by the Act.
View regulationsSupervision
The Bank of Canada administers the framework and supervises participants according to the responsibilities assigned under the Act.
View oversight informationTechnical standards
Participating entities will use a common technical standard designed to support secure and interoperable financial data sharing.
Read the frameworkWhat the framework is designed to support
Four important principles appear throughout Canada's legislative and regulatory approach.
Consumer direction
Consumers, including businesses, choose whether their financial data is shared and which approved participant receives it.
Secure data sharing
The framework is intended to replace less secure credential-sharing practices with regulated, API-based data sharing.
Accredited participation
Organizations entering the framework must follow an applicable pathway and continue meeting regulatory, security and reporting obligations.
Regulatory oversight
The Bank of Canada supervises the framework, while the Department of Finance continues its policy and legislative development role.
Framework implementation timeline
A high-level view of the major government and regulatory milestones supporting implementation.
Updated policy framework
The Government outlined the governance, scope, accreditation and common-rule model for Canada's Consumer-Driven Banking Framework.
View the frameworkLegislative framework receives Royal Assent
The completed legislative framework established the statutory foundation for Consumer-Driven Banking and its supervisory regime.
Read the ActProposed regulations published
Proposed Consumer-Driven Banking Regulations were published in the Canada Gazette, Part I, together with a regulatory impact analysis.
View the Gazette publicationBank of Canada supervision
The Bank of Canada is developing its supervisory approach and implementation resources for entities participating in the framework.
Follow implementationBroader scope and functionality
Additional policy work may consider broader participation and functionality, including the potential for write access and payment initiation.
Read about future phasesGovernment and regulation FAQ
Search or expand the questions below for a plain-language overview of the framework.
What is Consumer-Driven Banking?
Consumer-Driven Banking, commonly called open banking in other countries, is a regulated framework that allows consumers and businesses to direct that their financial data be shared with approved service providers of their choice.
Official Bank of Canada overviewWhat is the purpose of the Act?
The Act establishes a framework in which consumers, including businesses, can direct that their data be shared among participating entities. Its stated purpose includes making data sharing safe and secure and fostering competition in the financial sector.
Read the official ActWho oversees Consumer-Driven Banking in Canada?
The Bank of Canada is responsible for administering the framework and supervising participating entities and certain related organizations under the Act. The Department of Finance Canada retains its policy, legislative and regulatory development role.
View Bank of Canada responsibilitiesWhat do the proposed regulations cover?
The proposed regulations include detailed requirements relating to accreditation, security, authentication, consent, reporting, record keeping, technical standards, assessments, violations and national security review processes.
Read the proposed regulationsWhich types of organizations may participate?
The framework provides pathways for mandated banks, other federally or provincially regulated financial institutions, registered payment service providers, fintechs and other qualifying entities. Certain third-party service providers may also seek accreditation for specified activities.
Review participation pathwaysWhat is accreditation?
Accreditation is the process through which eligible organizations apply to enter the framework and demonstrate that they meet the requirements applicable to their type of organization. Accreditation is an ongoing obligation rather than a one-time assessment.
Review proposed accreditation requirementsWhat types of data are expected to be covered?
The initial framework contemplates consumer profile, account, balance, transaction and product data associated with areas such as deposit accounts, payment products, investment accounts and lending accounts. Derived data is treated separately under the Act.
Review the proposed data scopeHow does consumer consent work?
Participating entities must obtain consumer authorization before sharing data and follow the consent requirements established by the legislation and regulations. Consent and withdrawal processes are intended to be clear, simple and not misleading.
Consult the official legislationWill Canada use a common technical standard?
The framework provides for a single technical standard established through a designated technical standards body. The standard is intended to support security, interoperability, competition and innovation.
Read the technical-standards overviewIs screen scraping already prohibited?
The Act includes provisions concerning the prohibition of screen scraping, but implementation timing and related parameters require additional policy development and consultation. The official legislation should be checked to confirm which provisions are currently in force.
Check the Act and in-force statusWill the framework eventually support payments?
The initial framework focuses primarily on data access. Government policy work for a future phase is considering broader functionality, including write access, which could support activities such as payment initiation.
Read about future phasesNo questions found
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Consult the official sources
Government and regulatory information can change as implementation progresses. Always consult the official sources for current requirements, dates and legal wording.