May 5, 2025

financial institution data security

Banking

CFPB Plans to Revisit Open Banking Rule Despite Workforce Cuts

The Trump administration is poised to reopen a Biden-era rule allowing customers to share their sensitive bank data with third-party fintechs and potentially vacate it, according to multiple sources. The Consumer Financial Protection Bureau is leaning toward reworking its open banking rule, which allows customers to share their deposit account and credit card information with

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