The Consumer Finance Protection Bureau has filed a motion for summary judgment asking a Kentucky federal court to strike down its Biden-era Open Banking Rule, amid litigation challenging its legality. The Open Banking Rule would have created rights for consumers to efficiently access and transmit banking account information to third
CFPB asks court to vacate Open Banking Rule
The financial account data sharing rule, which once enjoyed bipartisan and industry support, is dead for now, but revival in a different form is expected.