Posts Tagged ‘CFPB’
Canadian government provides clarity on Open Banking framework in Budget 2024
The Financial Consumer Agency of Canada will be responsible for the oversight, administration and enforcement of consumer-driven banking.
Read MoreCFPB faces call for tougher approach to consumer financial data security
The Clearing House Association and Bank Policy Institute have written that “competition cannot come at the expense of data security”.
Read MoreCFPB proposes Big Tech ‘play by the same rules’ as banks, credit unions
The Consumer Financial Protection Bureau seeks to supervise non-bank companies offering digital wallets and payment apps in line with banks and credit unions.
Read MoreUS Open Banking given boost as CFPB proposes data rights rule
The Consumer Financial Protection Bureau’s Rohit Chopra said the new rule will “supercharge competition” and “discourage junk fees”.
Read MoreCFPB issues warning to consumers with money stored on non-bank payment apps
The Consumer Financial Protection Bureau said in the event of financial distress, it cannot guarantee balances on digital payment apps would be protected.
Read MoreQ&A: Lisa Novier of Envestnet Data & Analytics on why data aggregation platforms need supervision in the US
The US’s market-driven approach has generated strong demand from consumers for data sharing, according to Envestnet Data and Analytics’ head of governance, risk and compliance.
Read MorePlaid writes to CFPB with recommendations for consumer data access right
The Consumer Financial Protection Bureau invited stakeholder input last year, as it seeks to strengthen consumers’ access to their financial data.
Read MoreInsight: Bringing Open Banking to North America in 2023
Eyal Sivan, head of Open Banking at Axway, writes about the US and Canada’s respective routes to Open Banking and the role of a common standard, the FDX API, in getting there.
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