Open banking: Decoding Section 1033
CFPB passed the final open banking legislation on Oct. 22
Ten years in the making, the Consumer Financial Protection Bureau’s recently finalized open banking rule is making waves. The rule, Section 1033, was finalized Oct. 22 and states that consumers can transfer their financial data to another financial institution (FI) provider at no cost, using the framework for secure payments and comparing financial services at […]
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