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
A district court judge this week has denied allowing four groups — the American Fintech Council, Financial Data and Technology Association, Financial Health Network and Public Citizen — to file legal briefs in support of a rule on financial data rights.| American Banker
JPMorgan Chase and bank trade groups criticized the Consumer Financial Protection Bureau's open banking rule for not providing enough data security.| 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
The Financial Technology Association will now defend the Consumer Financial Protection Bureau's open banking rule after the Trump administration sided with banks that sued the agency.| American Banker