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
New laws implement regulatory standards and licensing requirements for fintechs seeking to improve employee access to wages.
On June 13, 2023, Nevada enacted a law that regulates earned wage access (EWA) services provided...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