Consumer Finance Monitor Podcast Episode: Navigating the New CFPB Open Banking Rule
Consumer Finance Monitor Podcast Episode: Post-Election Insights: Impacts on the Banking and Consumer Financial Services Industry
A rapid transformation in consumer finance is being brought about by open banking—a pivotal innovation that allows consumers to give third parties real-time access to their detailed financial data. Open banking has the...more
In a move that has been a long time in the making, the Consumer Financial Protection Bureau (CFPB) has finalized its comprehensive open banking rule. The rule implements Section 1033 of the Dodd-Frank Act and grants consumers...more
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 HKMA introduces a new data sharing initiative, reported on the central bank digital currency initiative, and outlined regtech plans. The fifth annual Hong Kong Fintech Week conference kicked off with speeches and panels...more
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
The concept of open banking has been around for much of the 21st century and has been instrumental in creating a host of new banking services. ...more
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
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