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CFPB says startups and consumers must have say in open banking standard setting https://t.co/zaAKIs06jZ
The CFPB made more progress in its efforts to lay the groundwork for open banking in the U.S., adopting a mechanism that will allow "open" and "balanced" organizations to begin setting official, industry-wide technical standards for financial data sharing. https://t.co/XehhMGrrWK https://t.co/z63Q4rUDI5
Today, the CFPB finalized a rule outlining the qualifications to become a recognized industry standard setting body, which can issue standards that companies can use to help them comply with the CFPB’s upcoming Personal Financial Data Rights Rule. https://t.co/4qUISyABlj
On June 4, the Consumer Financial Protection Bureau (CFPB) issued a circular warning against the use of unlawful or unenforceable terms and conditions in contracts for consumer financial products or services. Additionally, on June 5, the CFPB finalized a rule outlining the qualifications to become a recognized industry standard-setting body, which can issue standards to help companies comply with the upcoming Personal Financial Data Rights Rule.