The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and immediate legal challenge....more
10/30/2024
/ Consumer Data Requests ,
Consumer Financial Products ,
Consumer Financial Protection Bureau (CFPB) ,
Depository Institutions ,
Dodd-Frank ,
Final Rules ,
Financial Institutions ,
Financial Services Industry ,
FinTech ,
Open Banking ,
Personal Data ,
Sensitive Personal Information
As person-to-person payments become mainstream, the proposal would proactively outlaw fees that financial institutions could assess on instantaneously declined transactions.
On January 24, 2024, the Consumer Financial...more
The proposal would subject certain large non-bank companies offering wallet and payment services to federal regulatory oversight on par with banks and credit unions.
On November 7, 2023, the Consumer Financial Protection...more
A proposed rule would lower the maximum amount that large debit card issuers can charge merchants for each transaction.
On October 25, 2023, the Board of Governors of the Federal Reserve System (FRB) published a proposal...more
Consumers and businesses stand to benefit from rapid access to funds at any time when routed through participating financial institutions.
On July 20, 2023, the Federal Reserve announced the long-awaited launch of its...more
The guidance outlines principles and key considerations for banking organizations as they navigate risks associated with third parties, including fintechs.
On June 6, 2023, the Federal Deposit Insurance Corporation...more
6/23/2023
/ Banking Sector ,
FDIC ,
Financial Institutions ,
FinTech ,
FRB ,
Interagency Guidance ,
OCC ,
Risk Management ,
Third-Party ,
Third-Party Relationships ,
Third-Party Risk