News & Analysis as of

Data-Sharing Consumer Financial Protection Bureau (CFPB) Rulemaking Process

Ballard Spahr LLP

Reversing course, CFPB says it will issue revised open banking rule

Ballard Spahr LLP on

In a surprise announcement, the CFPB has said it will issue a revised Section 1033 open banking rule rather than simply killing the Biden Administration rule....more

Orrick, Herrington & Sutcliffe LLP

CFPB signals it will revisit its open banking rule following court stay

On July 29, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s motion to stay proceedings in a case challenging the Bureau’s Section 1033 rule after the Bureau signaled its plans to “engage in an...more

Sheppard Mullin Richter & Hampton LLP

In a Surprising Switch, CFPB Now Seeks to Rewrite Open Banking Rule

On July 29, the U.S. District Court for the Eastern District of Kentucky granted the CFPB’s request to stay litigation challenging its open banking rule. The rule (previously discussed here) aimed to establish industry-wide...more

Orrick, Herrington & Sutcliffe LLP

RegFi Episode 22: Data Sharing and the 1033 Rule: An Industry Perspective with Ramon Gomez

Ramon Gomez — Managing Director, Regulatory Affairs at JPMorgan Chase — joins RegFi cohosts Jerry Buckley and Sasha Leonhardt for a conversation about Section 1033 of the Dodd-Frank Act and its implications for consumer data...more

Perkins Coie

Fintech Week in Review - January 2021 #3

Perkins Coie on

Federal Regulation Actions Frozen Pending Review from New Administration - On January 20, 2021, newly inaugurated President Joe Biden issued a memorandum to the Heads of Executive Departments and Agencies asking current...more

Ballard Spahr LLP

CFPB Symposium on Consumer Access to Financial Records

Ballard Spahr LLP on

On February 26, 2020, the CFPB held a symposium on Consumer Access to Financial Records and Section 1033 of the Dodd-Frank Act. ...more

Ballard Spahr LLP

Department of Defense Proposes Data Sharing Arrangement with Department of Education to Identify Service Members Eligible for 0%...

Ballard Spahr LLP on

A Federal Register entry published last week details a proposed data-sharing arrangement between the Department of Defense (DoD) and the Department of Education (DoE) designed to reduce the amount of interest that certain...more

Goodwin

CFPB Seeks Public Comment to Proposed Rule Reforming No-Action Letter Policy

Goodwin on

On December 13, 2018, the CFPB published a proposed rule, seeking public comment regarding a change to its policy on No-Action Letters, as well as a new feature called the “Product Sandbox,” a rule change that was initially...more

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