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Consumer Financial Protection Bureau (CFPB) › Final Rules › Data Management

Ballard Spahr LLP

CFPB states the Section 1033 Open Banking rule exceeds its authority

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In its motion for a summary judgment in a lawsuit challenging the regulation, the CFPB stated it has concluded that the Section 1033 Rule (Rule) exceeds the agency’s statutory authority to create an open banking system...more

Hinshaw & Culbertson - Privacy, Cyber & AI...

CFPB Finalizes Open Banking Rule to Boost Competition, Protect Privacy, and Enhance Consumer Choice

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On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited Final Rule implementing Section 1033 of the Dodd-Frank Act ("Final Rule") with the intention of giving consumers greater rights,...more

Mayer Brown

CFPB Finalizes Long-Awaited Rule to Accelerate Open Banking Development; Immediately Sued

Mayer Brown on

On October 22, 2024, the Consumer Financial Protection Bureau (CFPB) finalized a rulemaking on Personal Financial Data Rights (the “Final Rule”). The Final Rule is intended to accelerate a shift towards open banking in the...more

Ballard Spahr LLP

Trade Associations Sue CFPB on Same Day as it Issues Final Open Banking Rule Under Section 1033 of Dodd-Frank

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On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final rule implementing Section 1033 of the Dodd-Frank Act (the “Final Rule” or the “Open Banking Rule”), granting consumers greater access...more

Troutman Pepper Locke

CFPB Issues Final Section 1033 Open Banking Rule: Legal Challenge Filed Immediately

Troutman Pepper Locke on

This week, the Consumer Financial Protection Bureau (CFPB or Bureau) issued its final rule on personal financial data rights, purportedly aimed at enhancing consumer control over their financial data and promoting competition...more

Ballard Spahr LLP

CFPB Finalizes Open Banking Rule

Ballard Spahr LLP on

On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB”) issued its final rule implementing Section 1033 of the Dodd-Frank Act (the “Final Rule” or the “Open Banking Rule”), granting consumers greater access...more

Akerman LLP

CFPB Finalizes Open Banking (Section 1033) Rule

Akerman LLP on

On October 22nd, the Consumer Financial Protection Bureau ("CFPB") issued its final open banking rule, which implements section 1033 of the Dodd Frank Act ("Final Rule"). The Final Rule requires data providers, which includes...more

Troutman Pepper Locke

Banks Should Continue to Prep for CFPB Data Rule Rollout

Troutman Pepper Locke on

Companies that fall within the definition of “data provider” are expected by this fall to be required to comply with the Consumer Financial Protection Bureau’s proposed rule implementing Section 1033 of the Dodd-Frank Act. ...more

Ballard Spahr LLP

Former CFPB Director Kraninger calls out the CFPB for manipulating data to serve a partisan agenda

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Florida Bankers Association President and CEO and former Director of the Consumer Financial Protection Bureau (CFPB) Kathy Kraninger wrote an editorial in the May 14, 2024 American Banker titled “CFPB Must Stop Manipulating...more

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