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Banking Sector Financial Services Industry Open Banking

Barnea Jaffa Lande & Co.

Israel’s Latest Attempt to Increase Competition in the Banking Sector

On August 6, 2025, the interministerial team to increase competition in the retail banking sector (established by Israel’s Minister of Finance in collaboration with the Governor of the Bank of Israel) published its...more

Morrison & Foerster LLP

A Hard Reset on 1033?: A Look at What’s Next for Open Banking

The financial services industry generally, and data aggregators specifically, have watched intently as the Trump administration has altered the course of the Consumer Financial Protection Bureau (CFPB or “Bureau”), in an...more

Sheppard Mullin Richter & Hampton LLP

Federal Court Pauses Open Banking Rule Litigation

On February 25, a federal judge in the United District Court for the Eastern District of Kentucky approved a joint motion between the CFPB and banking trade groups to pause litigation over the agency’s 1033 open banking rule....more

Holland & Knight LLP

Proyecto de decreto en Colombia hace obligatorio el sistema de finanzas abiertas

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El Ministerio de Hacienda y Crédito Público de Colombia expidió un proyecto de decreto que establece las normas, objetivos y reglas respecto del sistema de finanzas abiertas, estableciendo un régimen obligatorio y...more

Alston & Bird

Payments Docket – December 2024

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The latest edition of the Payments Docket, our roundup of key litigation and enforcement involving the payments industry, features why the CFPB’s open banking rule is under fire, a convenience fee that steals your lunch...more

Blake, Cassels & Graydon LLP

Nouvelle série de changements législatifs et réglementaires dans le secteur des paiements du Canada

La réglementation du secteur des services financiers et des paiements au Canada a fait l’objet de plusieurs modifications récemment, lesquelles ont des répercussions sur le plan de la conformité, notamment en lien avec le...more

Goodwin

Money20/20 Zeros in on AI, Open Banking, and Payment Innovation

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The end of October marked the conclusion of another successful year of Money20/20, the premier event for the payments, banking, fintech, and financial services industries. If you missed the conference, fear not. Below is a...more

Perkins Coie

CFPB Finalizes Proposed Open Banking Rule on Personal Financial Data Rights

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Background on Open Banking and the CFPB - The Consumer Financial Protection Bureau (CFPB) recently finalized a rule on personal financial data rights (Rule), implementing Section 1033 of the Consumer Financial Protection Act...more

Blake, Cassels & Graydon LLP

Pay Attention: A New Wave of Changes to Canada’s Payments Industry

Canada’s financial services and payments sector is experiencing a surge of regulatory updates, impacting the Code of Conduct for the Payment Card Industry (Code), criminal interest rate laws, open banking, consumer protection...more

DLA Piper

Bank Regulatory News and Trends

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This regular publication from DLA Piper focuses on helping banking and financial services clients navigate the ever-changing regulatory landscape. In this edition: CFPB issues final rule on personal financial data rights...more

Holland & Knight LLP

CFPB Finalizes New "Open Banking" Rule; Prompt Court Challenge Is Pending

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The Consumer Financial Protection Bureau (CFPB) on Oct. 23, 2024, issued its final "open banking" rule. Starting for some institutions as early as 2026, financial service providers must, upon a consumer's request, make...more

Orrick, Herrington & Sutcliffe LLP

CFPB receives first application for open banking standard setter recognition

On September 24, the CFPB received its first application for open banking standard setter recognition under Section 1033 of the Dodd-Frank Act. As previously covered by InfoBytes, the CFPB initiated its public comment period...more

K&L Gates LLP

Overview of the CFPB's Proposed Open Banking Rule and Final Industry Standard Setting Rule

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The financial services and banking industry landscape continues to evolve in the face of new and emerging technologies. This phenomenon is especially prevalent in the sharing of consumer data between financial institutions...more

Orrick, Herrington & Sutcliffe LLP

CFPB finalizes standards setting body component of open banking rule

On June 5, the CFPB announced it finalized in part its proposed Personal Financial Data Rights rule, thus establishing the minimum qualifications necessary for the Bureau to become a recognized industry standard setting body...more

Goodwin

CFPB and European Commission Release Report Regarding “Critical” Priority Areas for Consumer Financial Protection Issues

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In April 2024, the Consumer Financial Protection Bureau (CFPB or Bureau) and the Commissioner for Justice and Consumer Protection of the European Commission (European Commission) announced that three meetings had been...more

Hogan Lovells

The Payments Newsletter including Digital Assets & Blockchain, April 2024

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Key developments of interest over the last month include: the EU’s regulation on instant credit transfers in euro coming into force; the Bank for International Settlements (BIS) announcing a public-private partnership to...more

Perkins Coie

CFPB Issues Proposed Open Banking Rule

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The Consumer Financial Protection Bureau (CFPB) announced that it was issuing a Notice of Proposed Rulemaking regarding Personal Financial Data Rights on October 19, 2023. The proposed rule (Proposed Rule) would implement...more

Orrick, Herrington & Sutcliffe LLP

Wyoming amends its open banking provisions

On March 8, the Wyoming governor signed HB 145 (the “Act”) related to open banking, making two changes. First, the amendment updated the definition of a “customer” as a natural person or an agent, trustee, or representative...more

Holland & Knight LLP

La SFC expide regulación sobre las finanzas abiertas en Colombia

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La Superintendencia Financiera de Colombia (SFC) expidió recientemente la Circular Externa 004 de 2024, mediante la cual se establecen los estándares necesarios para el despliegue de las finanzas abiertas en el país. La...more

Blake, Cassels & Graydon LLP

Énoncé économique de l’automne : Nouveautés concernant le système bancaire ouvert et la charte hypothécaire canadienne

Le 21 novembre 2023, le gouvernement fédéral a publié son Énoncé économique de l’automne 2023 (l’« ÉÉA »), dans lequel il présente son plan d’action pour l’économie ainsi que des mesures législatives à venir. L’ÉÉA décrit...more

Blake, Cassels & Graydon LLP

Key Updates: Open Banking and Canadian Mortgage Charter in Fall Economic Statement

On November 21, 2023, the federal government released the 2023 Fall Economic Statement (FES), outlining its economic plan and next legislative steps. The FES sets out several key legislative and regulatory initiatives...more

Orrick, Herrington & Sutcliffe LLP

Hsu presents thoughts on open banking

Acting Comptroller of the Currency Michael J. Hsu recently discussed the evolution and impact of open banking during remarks at the Spring FDX Global Summit. Defining open banking as “enabling consumer-permissioned sharing of...more

Hogan Lovells

Updated on the Open Banking System in Brazil

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Open banking in Brazil, the system created by the Brazilian Central Bank for the sharing of data, information and financial services, is moving forward to its fourth stage. Open banking is a system created by the Brazilian...more

Hogan Lovells

Global Payments Newsletter, August 2021

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Key developments of interest over the last month include: Brazil: Central bank publishes details of push towards Phase 2 of Open Banking - United Kingdom: PSR launches Digital Payments Initiative - Estonia:...more

Latham & Watkins LLP

Taskforce Proposes New Approach to Financial Regulation in the UK

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A report from the Taskforce on Innovation, Growth and Regulatory Reform provides recommendations for how the UK can “re-imagine” its approach to regulation post-Brexit. On 16 June 2021, the Taskforce on Innovation,...more

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