Stevie Graham (new account)(@stevegraham):Let me explain what is happening here: - FDATA is a fintech lobbyist that wants 1033 open banking to happen. - The current 1033 rule is preliminarily enjoined because it goes beyond the statute: the right is for principal consumers, agents, trustees, or representatives thereof. Not arms-length fintechs - The AI agent boom happened and this lobby will now try to argue AI agents are common law agents, thereby being entitled to open banking access Common-law agency requires the agent’s assent or consent to a fiduciary relationship. An AI is not a legal person capable of consent or assent. Fintech lobby BTFO… AGAIN!

2026.09.23 20:37

Let me explain what is happening here: - FDATA is a fintech lobbyist that wants 1033 open banking to happen. - The current 1033 rule is preliminarily enjoined because it goes beyond the statute: the right is for principal consumers, agents, trustees, or representatives thereof. Not arms-length fintechs - The AI agent boom happened and this lobby will now try to argue AI agents are common law agents, thereby being entitled to open banking access Common-law agency requires the agent’s assent or consent to a fiduciary relationship. An AI is not a legal person capable of consent or assent. Fintech lobby BTFO… AGAIN!

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Stevie Graham (new account)@stevegraham

2026.09.23 19:59

Absolutely wild to see actual practicing attorneys claim AI agents are common law agents. Didn't they read Restatement of Agency in law school? SMH