Banks are trying to get a grasp of the Consumer Financial Protection Bureau's financial data rights plan, from preparing for an influx of data requests from fintechs to meeting ongoing compliance.| American Banker
The Consumer Financial Protection Bureau's open banking rule is supposed to put small banks on a more even footing with their larger rivals. But PNC CEO Bill Demchak says larger banks' advantages in tech and economies of scale will win the day.| American Banker
If you were going to loan someone money and you wanted to predict if they were going to pay you back or not, what pieces of information would you most want to see? This isn’t a trick question. When I used to teach financial literacy to high school students, I’d ask them this question and […]| Fintech Takes
The final rule on open banking is expected to be issued any day now by the Consumer Financial Protection Bureau. Banks have raised a host of concerns about liability, fraud and oversight of third-party fintech partners.| American Banker
The Consumer Financial Protection Bureau expanded the scope of the 1033 rule to include payment apps, provides for some secondary uses of data, and extends the timeline for compliance.| American Banker
I have reached a stage in my life where I have very little need for my credit reports. I am paying a mortgage on what I hope is my forever home. I have a minivan that I am planning to drive into the ground (this is a flex … listen to this podcast for the […]| Fintech Takes
The Consumer Financial Protection Bureau (CFPB) proposed a rule that would accelerate a shift toward open banking, where consumers would have control over data about their financial lives and would gain new protections against companies misusing their data.| Consumer Financial Protection Bureau