As Noozhawk reported, Santa Barbara County Taxpayers Association Executive Director Tom Widroe stated that financial technology companies should face data protection rules comparable to those required of banks. Widroe said that weak oversight allows companies to collect, reuse, or sell customer financial data, creating risks for privacy, security, and financial stability. He noted that unlike banks operating under strict safeguard rules, fintech firms may use customer information to build profiles or train models. Widroe called on the Consumer Financial Protection Bureau to establish a consistent standard requiring any company handling financial data to meet bank-level protections.