Most governments, including the big regulatory regimes outside the US, consider financial interoperability highly, highly desirable. In fact, it's an explicit policy goal of both central banks and governments.
Yup. In Europe for example the PSD2 directive forces all banks to provide APIs for core financial services like account balance, transaction history, SEPA transfer including realtime transfers, and similar. If you like the terms of bank A more than B, but B has a better online banking website, you can link your A account into B's online banking, and get a lot of it done.
In the US.
In Europe the GDPR limits this to some extend.
Some parts of the industry will be in for a rude awakening once the inevitable court cases around most tx data not being properly anonymizable, unless you use per-pairing tokens (if you use the same tokens for a participant across all tx with multiple parties you can almost certainly de-anonymize all tokens through network effects if you know the identity of sufficient other tokens, and that is before you include things like location). But of course per-tx-pairing reduces the amount if signal you can extract ...
Interesting point. I’ll have to do some research to see whether transcribing text without names and recording a call are considered different.
Given your job and your counterparties, have you considered using professional services for some of this?
I mean, sure, party consent law for call recordings is not that difficult to research, but the problem is elsewhere: Honestly, that this practice requires this legal consideration is something you might have done well to consider earlier.
Lawyers are expensive, but if all you want to do is to obtain reasonably straight-forward legal advice instead of representation, having an odd half-hour here or there on a call you can ask questions is not
that expensive. Plus, it ought to be tax-deductible anyway. You can go through all the things you aren't sure about, obtain legal advice, and unlike your posts here, your internet search history or favors by a mate all questions you ask are covered under attorney/client privilege.
(I run all legal questions that may cause liability for the company through corporate counsel, but questions that may lead to personal liability for me I usually prefer to get answered by my own counsel. My legal protection insurance includes a certain amount they will pay for legal consultations, and that's usually enough to cover those needs; but that particular sector of insurance is far less developed in the US than it is elsewhere unfortunately)
IDNGAF about other people's meetings.
