CFPB finalizes ‘open banking’ rules for consumer data sharing
According to the CFPB, as the rules take effect, consumers will be able to transfer their data between banks free of charge and without obstacles.
New CFPB rule aims to make switching banks easier by requiring free release of personal data
The Consumer Financial Protection Bureau announced a final rule that will allow consumers to switch banks more easily by requiring banking institutions to release certain personal data for free.
What CFPB's open banking rule does to advance payment innovation
Section 1033 promised to increase competition in banking and improve the ability to offer novel payment methods, but experts say the regulation isn't clear enough to have a major impact.
CFPB finalizes rule that lays the foundation for open banking
The rule requires financial providers, including mortgage companies, to share personal financial data with peers when customers request it.
CFPB issues final rule on open banking
Payment apps are included in the data-control rule, in a change from last year’s proposal. Banks and credit unions with less than $850 million in assets are exempt.
CFPB's 1033 open banking final rule expands scope to payment apps
The Consumer Financial Protection Bureau expanded the scope of the 1033 rule to include payment apps, provides for some secondary uses of data, and extends the timeline for compliance.
CFPB Director on new consumer banking data rules
Consumer Financial Protection Bureau Director Rohit Chopra joins 'Squawk Box' to discuss a new rule requiring financial institutions to share customer data with other providers at customer request for free,
Goldman Sachs faces US CFPB fine over credit card business, WSJ reports
Goldman Sachs is facing a fine in the tens of millions of dollars from the U.S. Consumer Financial Protection Bureau over its ...
Who's the boss? You are, under CFPB's new rule
CFPB says its new rule will give Americans more control over their financial data, spur competition and lower prices for ...
Meta, Google, fintechs could face more scrutiny in CFPB proposal
With the CFPB's constitutionality status secured, the bureau will likely aim to finalize its proposal on fintech in the near ...
JD Supra3h
CFPB Bites of the Month - September 2024 - Wake Me Up When September Ends, CFPB
In this month's article, we share some of our top "bites" for the prior and current month covered during the September 2024 ...
New CFPB rules aim to boost competition in financial services
The Consumer Financial Protection Bureau (CFPB) on Tuesday unveiled rules intended to increase competition that would require ...
Goldman Sachs Faces CFPB Fine Over Credit-Card Business
Goldman Sachs will be ordered to pay tens of millions of dollars in penalties by the Consumer Financial Protection Bureau ...
New attack on CFPB runs into early trouble in Texas
In its bid to toss the case, Active Network argued that the Supreme Court ruled that the bureau’s funding mechanism “is constitutional only so long as the Federal Reserve recognizes a surplus to fund ...
Harris backs slashing medical debt. Trump's "concepts" worry advocates.
Health care experts are calling on lawmakers — and the next occupant of the White House — to help the millions of Americans ...