Utah’s growth over the last few decades is something we should all be proud of. The combination of a friendly business climate, effective leadership, and a growing and capable workforce has made our state a top destination for businesses of all shapes and sizes.

It’s difficult to drive through any part of our great state without seeing a new company or firm that has either moved to or started in Utah and grown into a tremendous success. And few industries have had a larger part in our story than our tech, specifically our financial technology sector.

According to the Kem Gardner Policy Institute at the University of Utah, in 2023, 67 fintech companies in Utah created nearly 8,000 jobs, producing more than $1 billion in total annual wages. They also estimate that fintech affects Utah’s employment, with each job in the industry generating an additional 2.8 jobs throughout the broader economy and an economic impact of $7.3 billion across all Utah industries.

But right now, much of that innovation and success is at risk, pending the outcome of a critical debate at the Consumer Financial Protection Bureau over a complex policy called Rule 1033, or the Open Banking Rule.

TRUMP TOUTS ‘NO TAX’ ON SOCIAL SECURITY TO MARK PROGRAM’S 90TH ANNIVERSARY

Mandated by Dodd Frank, the first Trump administration began the development of a rule that would set clear rules of the road for data........

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