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Data Privacy FinTech Consumer Financial Protection Bureau (CFPB)

McGlinchey Stafford

Changes to US Open Banking Regulation: Tea Leaves from the CFPB’s Latest Action

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The CFPB recently published an Advance Notice of Proposed Rulemaking (ANPR) to reconsider four key issues related to its “Personal Financial Data Rights” rules, which were finalized at the end of 2024 but have been mired in...more

Patomak Global Partners

CFPB Initiates New Rulemaking for Section 1033

The Trump administration’s CFPB leadership has rolled back a series of Biden-era initiatives. As part of this deregulatory push, on 30 May, CFPB leadership signaled its intent to change course on the rulemaking mandated by...more

DLA Piper

A Revamped CFPB Rulemaking on Personal Financial Data Rights

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The Consumer Financial Protection Bureau (CFPB) published an Advance Notice of Public Rulemaking on August 22, 2025, reopening the rulemaking process for Section 1033 of the Dodd-Frank Act, which deals with how consumers can...more

Saul Ewing LLP

Open Call: CFPB Seeks Comments on New Section 1033 Open Banking Rule

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The first step in the future of open banking under the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank" or the "Act") is here: in a notice posted August 22, 2025 (the "Notice"), the Consumer Financial...more

Moore & Van Allen PLLC

CFPB Returns to Rulemaking on Personal Financial Data Rights Rule 1033

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On August 22nd, the Consumer Financial Protection Bureau (the “CFPB”) published an advanced notice of proposed rulemaking (an “ANPR”) relating to a reconsideration of the CFPB’s current Personal Financial Data Rights Rule...more

Holland & Knight LLP

CFPB Seeks Comments and Data on Revised Open Banking Rule

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The CFPB published an advanced notice of proposed rulemaking (ANPR) on Aug. 22, 2025, seeking comments and data to aid in the agency's reconsideration of its Section 1033 Open Banking Rule. This notice follows the CFPB's...more

Cooley LLP

CFPB Reconsiders Section 1033 Rule Signaling Potential Overhaul of Personal Financial Data Rights Framework

Cooley LLP on

On August 22, 2025, the Consumer Financial Protection Bureau (CFPB) published an advance notice of proposed rulemaking (ANPR) seeking public comment on four substantive aspects of its Section 1033 rulemaking under the...more

Brownstein Hyatt Farber Schreck

CFPB Restarts Data Sharing Rulemaking

On Aug. 22, the Consumer Financial Protection Bureau (CFPB) released an Advanced Notice of Proposed Rulemaking (ANPRM) on Personal Financial Data Rights while its October 2024 final rule is the subject of ongoing litigation....more

Morrison & Foerster LLP

On Reconsideration: CFPB Issues Another ANPR on the Open Banking Rule

All signs had pointed to the Consumer Financial Protection Bureau (CFPB or “Bureau”) rolling back the open banking final rule implementing Section 1033 of the Dodd-Frank Act (12 U.S.C. § 5533) (“PFDR Rule”) promulgated by the...more

Sheppard Mullin Richter & Hampton LLP

CFPB Reopens Data Rights Debate with New 1033 Rulemaking

On August 21, the Consumer Financial Protection Bureau published an advance notice of proposed rulemaking (ANPR) in the Federal Register to reconsider its Personal Financial Data Rights Rule under Section 1033 of the...more

Ballard Spahr LLP

CFPB invites comments on new Section 1033 ‘open banking’ rule

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As promised, the CFPB is issuing an Advance Notice of Proposed Rulemaking soliciting comments on the agency’s open banking rule....more

Wiley Rein LLP

[Podcast] Open Banking, Financial Data Rights, and What it Means for Crypto

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In the latest episode of CryptoCounsel, Frank is joined by his Wiley colleague Duane Pozza for a deep dive into open banking with guest Steve Boms, Founder and President of Allon Advocacy and Executive Director of the...more

Ballard Spahr LLP

AI in the Financial Services Industry

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The recent American Association of Residential Mortgage Regulators Annual Conference included a presentation highlighting the rising use of Artificial Intelligence (“AI”) in the Financial Services industry. As this will...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

Orrick, Herrington & Sutcliffe LLP

District court allows fintech association to intervene in stayed case

On May 14, the U.S. District Court for the Eastern District of Kentucky granted a fintech trade organization’s motion to intervene in a case involving a bank plaintiff who sued the CFPB. The court ruled that the association...more

Goodwin

2024 Year in Review: Fintech

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Financial technology — or fintech — companies will continue to receive increased regulatory scrutiny in 2025. The latter half of 2024 saw a rise in regulatory guidance and enforcement activity relating to fintechs and the...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 55: Implementing the 1033 Rule: SSOs, APIs and Data Security

Jane Barratt, Financial Data Exchange (FDX) co-board chair, joins RegFi co-hosts Jerry Buckley and Sasha Leonhardt to share the role FDX will play as the first standard setting organization (SSO) approved by the CFPB pursuant...more

McGlinchey Stafford

The Next Wave of Open Banking: New Rules on Personal Financial Data Rights

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A rapid transformation in consumer finance is being brought about by open banking—a pivotal innovation that allows consumers to give third parties real-time access to their detailed financial data. Open banking has the...more

DLA Piper

Digital Transformation: eSignature and ePayment News and Trends - January/February 2025

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Today’s ever-shifting business environment means that consumers, businesses, employers, and employees all expect to transact digitally. To remain efficient and competitive, companies must digitally transform their businesses....more

McGlinchey Stafford

CFPB’s Open Banking Rules: Dead on Arrival or Alive and Well?

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The Consumer Financial Protection Bureau (CFPB) finalized its long-awaited Personal Financial Data Rights rules under Section 1033 of the Dodd-Frank Act, marking a significant milestone in the regulation of...more

Hudson Cook, LLP

CFPB Bites of the Month - 2024 Annual Review - Fintech

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In this article, we share a timeline of our monthly "bites" for 2024 applicable to companies in FinTech. The Consumer Financial Protection Bureau was on a tear in the months leading up to the election and the inauguration of...more

Troutman Pepper Locke

2024 Payments Year in Review: CFPB and FTC Regulatory Trends – Part One — Payments Pros – The Payments Law Podcast

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In the first installment of a four-part Payments Year in Review series, Keith Barnett, Carlin McCrory, and Josh McBeain discuss significant developments in the payments landscape from the Consumer Financial Protection Bureau...more

Clark Hill PLC

CFPB Approves FDX Application With Conditions to Foster Transparency and Open Banking

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The Consumer Financial Protection Bureau (CFPB) has approved the Financial Data Exchange’s (FDX) application to serve as a standard-setting body under the final rule for Personal Financial Data Rights, (“open banking”)...more

Troutman Pepper Locke

CFPB Highlights Fair Lending Risks in Advanced Credit Scoring Models

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Last week, the Consumer Financial Protection Bureau (CFPB or Bureau) released its latest Supervisory Highlights report, focusing on the use of advanced technologies in credit scoring models. ...more

Sheppard Mullin Richter & Hampton LLP

CFPB Proposes Interpretive Rule on Emerging Payment Mechanisms Under EFTA

On January 2, 2025, the Consumer Financial Protection Bureau (CFPB) proposed an interpretive rule under the Electronic Fund Transfer Act (EFTA) and Regulation E to clarify how emerging payment systems, such as those used in...more

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