The Financial Data Transparency Act (S. 4295) and  Financial Transparency Act (H.R. 2989) is a RegTech bill that seeks to unlock data in the financial regulatory sector.

The proposed law will direct the seven major U.S. financial regulatory agencies to adopt consistent data fields and formats for the information they already collect from industry under securities, commodities, and banking laws. The Financial Transparency Act directs financial regulatory agencies to make their reporting information that existing laws require available as open data — electronically searchable, downloadable in bulk, and without license restrictions.