The government believes in the right of a large financial institution, as an example, to use your personal financial information in a way that isn't considered sensitive. That's the side it wants to be on, not the protection of an individual's privacy and the requirement for permission, which they can get as a blanket permission. It's not a difficult thing. We all give blanket permissions for privacy and the use of data when we subscribe to banking services.
On May 6th, 2024. See this statement in context.