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Data Protection Data Security Open Banking

Clark Hill PLC

CFPB Approves FDX Application With Conditions to Foster Transparency and Open Banking

Clark Hill PLC on

The Consumer Financial Protection Bureau (CFPB) has approved the Financial Data Exchange’s (FDX) application to serve as a standard-setting body under the final rule for Personal Financial Data Rights, (“open banking”)...more

Orrick, Herrington & Sutcliffe LLP

CFPB issues first application approval for company to issue standards for open banking

On January 8, the CFPB issued an order recognizing a company as a standard-setting body under its Personal Financial Data Rights rule, marking the first such recognition since the rule’s October 2024 release. The rule...more

K&L Gates LLP

Is Open Banking Coming to the United States?

K&L Gates LLP on

What is Open Banking? Open banking is a collaborative model in which banks and other similar regulated financial institutions are required to share their customers’ financial data with third parties upon the request of...more

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