News & Analysis as of

Proposed Rules Open Banking Advanced Notice of Proposed Rulemaking (ANPRM)

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

Morrison & Foerster LLP

Quick Readout: CFPB Issues Long-Awaited Open Banking Proposal

Morrison & Foerster LLP on

On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued its long-awaited proposed rule to facilitate what it views as open banking. The proposed rule would implement Dodd-Frank Act Section 1033 (12 U.S.C....more

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