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.
New CFPB Rule Could Make It Easier to Switch Banks
But that could all change, after the Consumer Financial Protection Bureau announced Tuesday that it finalized what supporters are calling an “open banking” rule, intended to make people’s financial histories portable so they can switch banks more easily.
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,
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.
CFPB's 1033 open banking final rule gives banks relief on liability
The Consumer Financial Protection Bureau expanded the scope of the 1033 rule to include payment apps, and CFPB Director Rohit Chopra signaled some relief from liability for banks.
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 ...
New CFPB rules aim to boost competition in financial services
The Consumer Financial Protection Bureau (CFPB) unveiled rules Tuesday intended to increase competition that would require ...
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CFPB's open banking rule faces suit from Bank Policy Institute
The Bank Policy Institute is among the parties that filed a lawsuit late Tuesday to challenge the Consumer Financial Protection Bureau's new open banking rule.
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 ...
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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 ...
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CFPB Finalizes New Rule Expanding Consumer Financial Data Privacy Rights
The Consumer Financial Protection Bureau (CFPB) finalized a rule today that's expected to expand consumers rights, privacy, ...
'Open banking' rules for consumer data unveiled by US watchdog
The top U.S. watchdog agency for consumer financial protection on Tuesday unveiled long-awaited rules intended to drive a ...