WASHINGTON, D.C. – The Financial Technology Association (FTA) today filed a motion to intervene in the lawsuit brought by the Bank Policy Institute (BPI) and Kentucky Bankers Association challenging the Consumer Financial Protection Bureau’s (CFPB) Section 1033 open banking rule. By moving to intervene, FTA seeks to preserve consumers’ right to securely access and control…| Financial Technology Association
An 11-point memo directs the agency’s staff to bring redress directly to affected consumers, “rather than imposing penalties on companies in order to simply fill the Bureau’s penalty fund,” the CFPB’s legal chief wrote.| Banking Dive
The Consumer Financial Protection Bureau plans to ask a federal judge in Kentucky to vacate a Biden-era rule allowing customers to freely share their bank and credit card account details with financial technology companies, multiple sources told Bloomberg Law.| news.bloomberglaw.com