American Banker

The open banking rule helps consumers. Why are banks against it?

A banking industry lawsuit seeks to undermine a rule put forward by the Consumer Financial Protection Bureau that would make it much easier for consumers to manage their own financial health, the ...
JD Supra

CFPB Issues Final “Open Banking” Rule Governing Third Party Use of Consumer Banking Information

After a yearslong lead-up, the Consumer Financial Protection Bureau (CFPB) published its final “open banking” rule in October. The rule effectuates the section of the Consumer Financial Protection Act ...
Business Wire

Akoya Calls for CFPB to Give Consumers More Protection by Eliminating Screen Scraping and Narrowing Secondary Uses of Data

BOSTON--(BUSINESS WIRE)--Akoya has recommended that the CFPB open banking rule ban screen scraping, narrow the scope of secondary uses of consumer financial data, and require data aggregators and ...
American Banker

How data sharing could change under CFPB's proposed new rules

Banks already share consumers' transaction data with fintechs, mostly through data aggregators, and often grudgingly through screen scraping. The proposed 1033 regulation could give more control to ...