Several online companies have formed a new group to support efforts to allow consumers to continue to access their financial data through third-party platforms.

Consumer Financial Data Rights will "support of the consumers' right to innovative products and services that improve their financial well-being and are powered by unfettered access to their financial data," according to a news release. Among the founding members are several fintech companies that provide financial management platforms, such as Personal Capital, Betterment and Affirm.

"Each consumer's right to their own financial data is vital in helping to understand their finances and make the best saving and spending decisions," said Max Levchin, CEO of Affirm.

In addition to its advocacy efforts, CFDR will seek to improve dialogue between the fintech sector and traditional financial institutions like banks.

The group did not announce whether it was nonprofit or would hire any staff. http://prn.to/2jaA5mP

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