Trade groups challenge CFPB's open banking rule on Day 1

The Consumer Financial Protection Bureau's final open banking rule didn't go a full day before facing a legal challenge from the banking industry Tuesday.

Klaros Group partner Jonah Crane shares his thoughts on the 1033 rule in Banking Dive.

Challenge to the CFPB's open banking rule could change the ...

... financial data to other providers for free on request. Multiple banking trade groups have already launched a joint legal battle opposing it.

Jonah Crane on LinkedIn: Trade groups challenge CFPB's open ...

No disagreements, just one nit. Small(er) banks may be exempt, but reality is that the tech vendors they rely on will have to provide the data ...

US banking industry files legal challenge against new 'open banking ...

A pair of U.S. banking trade groups filed a lawsuit on Tuesday challenging new rules issued by the Consumer Financial Protection Bureau that ...

CFPB Promotes Open Banking as it Issues Final Rule on Personal ...

Compliance deadlines begin April 1, 2026, for depository institution data providers holding at least $250 billion in total assets and ...

Trade groups challenge CFPB's open banking rule on Day 1

The Consumer Financial Protection Bureau's final open banking rule didn't go a full day before facing a legal challenge from the banking ...

Has CFPB Started a War Over Open Banking - The Financial Brand

The rule requires banks with more than $850 million in assets to make certain data available via digital channels to consumers and to third ...

CFPB Finalizes New "Open Banking" Rule; Prompt Court Challenge ...

The Consumer Financial Protection Bureau (CFPB) on Oct. 23, 2024, issued its final "open banking" rule. Starting for some institutions as early as 2026.

Trade Associations Sue CFPB on Same Day as it Issues Final Open ...

On the same day that the CFPB issued the Final Rule, the Bank Policy Institute filed a lawsuit in federal court challenging aspects of the ...

Chopra defends CFPB open banking rule in face of lawsuit

22, the same day the CFPB released its long-awaited rule 1033 governing open banking. ... Trade groups challenge CFPB's open banking rule on Day 1 ...

CFPB Finalizes Long-Awaited Rule to Accelerate Open Banking ...

Within hours of the Final Rule's release, two trade groups filed a lawsuit to challenge the Final Rule on the grounds that it exceeds the CFPB's ...

CFPB's open banking rule will kill community banks with kindness

The final rule on open banking is expected to be issued any day now by the Consumer Financial Protection Bureau. Banks have raised a host of ...

CFPB Finalizes Open Banking Rule

The rule aims to reduce market concentration by guaranteeing consumer access to personal financial data, but faces strident criticism and ...

CFPB Issues Final Section 1033 Open Banking Rule

CFPB Issues Final Section 1033 Open Banking Rule: Legal Challenge Filed Immediately · Access their financial data and authorize third parties to ...

CFPB's Open Banking Data Access Controls Fall Short, Banks Say

The Consumer Financial Protection Bureau's rule making it easier for customers to access and transfer their financial data gives banks the ...

Early Thoughts On The Final Open Banking Rule - Fintech Takes

One of the key points of contention in the proposed rule was the standard that a data provider (particularly a regulated bank) would need to ...

Open banking took a big step forward — what financial institutions ...

Court challenges follow the CFPB's ruling on Dodd-Frank 1033 as the industry weighs obligations against opportunities ... banking trade groups and ...

CFPB Issues Final “Open Banking” Rule Requiring Covered Entities ...

On October 22, 2024, the Consumer Financial Protection Bureau (“CFPB” or “Bureau”) published a 594-page Notice of Final Rulemaking for its ...

How one industry group is challenging the CFPB's BNPL rule

The Consumer Financial Protection Bureau has been issuing a barrage of rules and enforcement actions ahead of next year's change in the ...