Implementation Timeline
A chronological view of the legislative, regulatory and supervisory milestones behind Canada's Consumer-Driven Banking Framework — from policy announcement through to future phases still under consideration.
Updated policy framework announced
The Government of Canada set out the governance, scope, accreditation model and common-rules approach for Canada's Consumer-Driven Banking Framework.
View the framework announcementConsumer-Driven Banking Act receives Royal Assent
The federal legislation (Bill C-15) established the statutory foundation for the framework and named the Bank of Canada — not the FCAC — as the body responsible for administering and supervising it.
Read the ActProposed regulations published in the Canada Gazette
Detailed proposed Consumer-Driven Banking Regulations were published in the Canada Gazette, Part I, together with a regulatory impact analysis statement covering accreditation, security, consent, authentication, reporting, record keeping, technical standards, assessments, violations and national security review.
View the Gazette publicationBank of Canada builds its supervisory framework
The Bank is developing supervisory expectations for governance, risk management and operational resilience, publishing regulatory news, press releases, speeches and publications, and running the Consumer-Driven Banking Advisory Committee for ongoing industry input.
View the Advisory CommitteeAccreditation pathway opens to participants
Eligible banks, credit unions, registered payment service providers, fintechs and qualifying third-party service providers may seek accreditation. Accreditation is an ongoing obligation rather than a one-time assessment, so participants must continue meeting requirements after entering the framework.
Review proposed accreditation requirementsScreen-scraping prohibition takes effect
The Act includes provisions to prohibit screen scraping (sharing banking credentials with third-party apps), but the timing and detailed parameters for this prohibition require further policy development and consultation before taking effect.
Check the Act and in-force statusBroader scope: write access & payment initiation
The initial framework focuses on read-only data access. Government policy work may, in a future phase, consider broader functionality — including write access that could support activities such as payment initiation — as a foundation for open finance.
Read about future phasesNo milestones in this status
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