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Ballard Spahr LLP

CFPB states the Section 1033 Open Banking rule exceeds its authority

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In its motion for a summary judgment in a lawsuit challenging the regulation, the CFPB stated it has concluded that the Section 1033 Rule (Rule) exceeds the agency’s statutory authority to create an open banking system...more

Mayer Brown

Facilitating Data Sharing in Open Finance - New Central Bank Resolution

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In October of this year, the Central Bank of Brazil announced an important measure to simplify the consent renewal process within the field of Open Finance. Joint Resolution No. 7/2023—which will amend certain articles of...more

White & Case LLP

Secondary regulations relating to standardized application programming interfaces (API) under the Fintech Law (Open Banking)

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Under Article 76 of the Law regulating the Financial Technology Institutions ("Fintech Law") financial institutions, money transmitters, credit reporting companies, clearing houses, financial technology institutions and...more

Ballard Spahr LLP

CFPB Symposium on Consumer Access to Financial Records

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On February 26, 2020, the CFPB held a symposium on Consumer Access to Financial Records and Section 1033 of the Dodd-Frank Act. ...more

BCLP

Open Banking: A Practical API Licensing Primer

BCLP on

This post is the fourth and final in a series discussing Open Banking, its implementations, and its implications. In the United States, “open banking” does not yet mean that bank account and transaction data can be freely...more

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