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Open Banking

Bloomberg Law: CFPB’S Open Banking Rulemaking Muddled by Dated Finance Laws

Bloomberg Law discusses the expectations that the CFPB should create regulations for consumers’ safe sharing of their bank data with finance apps.

The Consumer Financial Protection Bureau has to decide how to apply dated consumer finance laws—aimed at protecting consumers from data breaches, flawed credit reports, and fraudulent transactions—to the new world of open banking.

Read the full analysis ($) here.