CONSUMERS URGE CFPB TO PROTECT DATA IN OPEN BANKING PLAN
https://s.yimg.com/ny/api/res/1.2/kOB0zSlq_3nwixSCGzJZNA--/YXBwaWQ9aGlnaGxhbmRlcjt3PTEyMDA7aD04MDE-/https://media.zenfs.com/en/american_banker_655/dde05de9d2f6dccf4d8eb0473357dd9f
✍️ The Consumer Financial Protection Bureau (CFPB) is rewriting a rule on personal financial data rights, allowing banks to charge fees for access to data. The rule was first initiated in 2016 and has been challenged by banks and fintech companies.
👉 The CFPB is rewriting a rule on personal financial data rights 👉 Banks will be allowed to charge fees for access to data 👉 Small banks want an exemption for banks with $10 billion in assets or less 👉 Fintech companies and consumer advocates are urging the CFPB to maintain data privacy safeguards
-- #MelanieWhite #RohitChopra #RussVought #ChiChiWu #AdamRust #MickeyMarshall #RyanT.Miller #PennyLee #RoseOswaldPoels #business
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