Consumer Finance Monitor Podcast Episode: Navigating the New CFPB Open Banking Rule
Consumer Finance Monitor Podcast Episode: Post-Election Insights: Impacts on the Banking and Consumer Financial Services Industry
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
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
The Consumer Financial Protection Bureau’s (CFPB) open banking rules, issued under Section 1033 of the Dodd-Frank Act, have been the subject of ongoing litigation since their finalization late last year. The litigation is...more
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
In a significant turn of events, the Consumer Financial Protection Bureau (CFPB or Bureau) has decided to initiate a new rulemaking process concerning its final rule on personal financial data rights under Section 1033 of the...more
On June 29, an intervenor-defendant, a fintech association, filed a motion for summary judgment urging the U.S. District Court for the Eastern District of Kentucky to uphold the CFPB’s Section 1033 rule. The fintech...more
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
Will the Consumer Financial Protection Bureau’s (CFPB) recently promulgated open banking rule survive under the new Congress and incoming presidential administration? Two upcoming proceedings may hold the answer....more
The inauguration of President Donald Trump on January 20, 2025, is anticipated to bring significant changes to the regulatory landscape for financial institutions. A central aspect of this shift is the expected overhaul of...more
On October 27, 2022, the Consumer Financial Protection Bureau (“CFPB”) announced a new regulatory framework (“Framework”) governing “Personal Financial Data Rights,” or, by another name, “open banking.” Conceptually, open...more