ComplianceIn The News

CFPB Proposes Rule To Jumpstart Competition And Accelerate Shift To Open Banking

The Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data. The proposed Personal Financial Data Rights rule activates a dormant provision of law enacted by Congress more than a decade ago.

Read More