Skip to Primary Navigation

Skip to main content

CFPB finalizes open banking rules for consumer data

Image of a woman holding a sign saying "Consumers Stand Up for the CFPB."
Photo: Alex Wong/Getty Images

Julie DiMauro

2 min read
Click to share on Facebook (Opens in new window/tab) Click to share on X (Opens in new window/tab) Click to share on LinkedIn (Opens in new window/tab) Click to share on WhatsApp (Opens in new window/tab)

The CFPB finalized “open banking” rules designed to allow consumers to control and share their own data when shopping for services.

The Consumer Financial Protection Bureau (CFPB) has issued its long-awaited final rule on open banking, which would require financial institutions, credit card issuers and other firms to transfer personal financial data to other providers for free at the consumer’s request.

Although last year’s proposal applied to data linked to

, , , , ,

Get full access, free for a month

Start your 28-day free trial to continue reading and access
all content on GRIP – no payment details required.

Start free trial Sign in

What’s included:

  • Every new article, plus our 5,000+ archive
  • Daily regulatory insight and guidance
  • Exclusive interviews and in-depth analysis
  • Coverage of industry-leading events and conferences
  • All podcasts and videos, featuring industry experts
  • The full set of Rules Navigator tools
  • An ad-free experience