In October 2023, the Consumer Financial Protection Bureau (CFPB) proposed a new rule intended to encourage “open banking”. “Open banking” is a practice of sharing, with consent, consumers’ banking and financial data...more
The federal consumer protection agency’s proposed rule would give consumers greater control over access to their personal financial information held by banks and credit unions. The CFPB’s stated goal is to increase...more
Regulatory Developments - FINRA Requests Comment on Its Machine-Readable Rulebook Initiative - On October 21, FINRA released a special notice requesting comment on the launch of its MRR initiative. The MRR is designed...more