On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued a final rule (Rule) on personal financial data rights under Section 1033 of the Dodd-Frank Act.1The Rule imposes significant new obligations on financial institutions that maintain consumer account information and affords ne...
On October 22, 2024, the U.S. Consumer Financial Protection Bureau (CFPB) issued a final rule under Section 1033 of the Consumer Financial Protection Act of 2010.1The final rule includes several important changes from the proposed rule. This client alert focuses on those changes. For ...
Plaid’s solutions for authorization and data management, record retention, and risk management will all align to the final rule. Customers can also use our 1033 readiness guide which we’ll continue to update with actionable steps to help with new 1033 requirements. In addition, we recently ...
on October 22, 2024 the Consumer Financial Protection Bureau (CFPB) issued its final Rule under Section 1033 of the Consumer Financial Protection Act. The Rule, also referred to as the “open banking rule,” has been a key priority of CFPB Director Rohit Chopra’s rulemaking...
摘要 On Oct. 22, the Consumer Financial Protection Bureau issued a final rule under Section 1033 of the Consumer Financial Protection Act. Of note, the final rule includes several important changes from the proposed rule. This analysis focuses on those changes. The final rule also includ...
Getting ready for 1033?Schedule a strategy sessionto help you prepare for the final rule. What is the Consumer Financial Protection Bureau (CFPB)? The Consumer Financial Protection Bureau (CFPB) is a U.S. government agency that aims to protect consumers from unfair treatment by financial institut...
Fact: There is nothing in the rule that would “sunset” the practice of screen scraping. The CFPB suggests in the preamble that itcouldregulate screen scraping in the future under its existing authority; however, the final rule does nothing to legally prohibit screen scraping practices. Many da...
of Section 1033 and remain committed to ensuring every consumer – regardless of where they go to meet their needs – has access to their personal financial data and knowledge of how it may be used. As such, CBA will continue to advocate for the final rule to re...
final Personal Financial Data Rights rule. In response, the CFPB notes that, as discussed above in this final rule, establishing a framework for standard setting is authorized by CFPA section 1033(a) and (d),” which is a nod to that particular section of the Dodd-Frank legislation that ...
The CPFB’s Fall 2022 Regulatory Agenda (which sets anticipated rulemaking timelines through Fall 2023) sets a sooner-than-anticipated target (now January 2023) for its final rule on small business lending data (i.e., Section 1071). When finalized, the rule will place this data under ...