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Financial Institutions › Personal Data › Proposed Rules

Orrick, Herrington & Sutcliffe LLP

CFPB proposes new rule to implement Section 1033 on consumer data rights

Orrick, Herrington & Sutcliffe LLP on

On August 22, the CFPB issued an advance notice of proposed rulemaking in the Federal Register seeking public comments and data to inform its decisions on implementing Section 1033 of the Dodd-Frank Act (the Personal...more

Sheppard Mullin Richter & Hampton LLP

CFPB Finalizes Personal Financial Data Rights Rule

Sheppard Mullin Richter & Hampton LLP on

On October 22, the CFPB announced the finalization of its Personal Financial Data Rights Rule under Section 1033 of the Dodd-Frank Act. The rule aims to bring the U.S. closer to an “open banking” framework by making it easier...more

Cadwalader, Wickersham & Taft LLP

CFPB's Personal Financial Data Rights Proposed Rule, Part 4

Cadwalader, Wickersham & Taft LLP on

This final installment of our coverage on the Consumer Financial Protection Bureau’s proposed rule regarding “personal financial data rights” builds upon concepts and concerns covered in our earlier posts. For an overview of...more

Cadwalader, Wickersham & Taft LLP

Technology and Other Obligations for the CFPB's Personal Data Financial Rights Rule, Part 3

Cadwalader, Wickersham & Taft LLP on

In our continuing series on the proposed rule introduced by the Consumer Financial Protection Bureau (“CFPB”) regarding Personal Data Financial Rights, this week’s installment examines the obligations that are applicable to...more

Goodwin

“Open Banking” Promoted in New CFPB Rule

Goodwin on

​​​​​​​In October 2023, the Consumer Financial Protection Bureau (CFPB) proposed a new rule intended to encourage “open banking”. “Open banking” is a practice of sharing, with consent, consumers’ banking and financial data...more

Cadwalader, Wickersham & Taft LLP

Entities Subject to the CFPB's Personal Data Financial Rights Proposed Rule, Part 2

Cadwalader, Wickersham & Taft LLP on

As we reported last week, the Consumer Financial Protection Bureau (“CFPB”) released a proposed rule addressing “personal data financial rights.” Comments are due on December 29, 2023....more

Troutman Pepper Locke

CFPB Launches Rulemaking to "Jumpstart" Open Banking

Troutman Pepper Locke on

On October 19, the Consumer Financial Protection Bureau (CFPB) issued its highly anticipated notice of proposed rulemaking under Section 1033 of the Consumer Financial Protection Act of 2010 (CFPA). The proposed Personal...more

Wilson Sonsini Goodrich & Rosati

CFPB Announces Proposed Rules to Accelerate Open Banking

Wilson Sonsini Goodrich & Rosati on

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) announced its long-awaited proposed rule regulating “Personal Financial Data Rights” (the proposed rule). The proposed rule implements Section 1033 of the...more

Jenner & Block

Client Alert: The CFPB’s New “Open Banking” Rule: Consumers and Competition Expected to Win Once Policies and Procedures Ironed...

Jenner & Block on

Last week, the Consumer Financial Protection Bureau issued its long-awaited proposed rule to implement Section 1033 of the 2010 Consumer Financial Protection Act, which has come to be known as the “open banking” provision...more

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