The CFPB's Section 1033 rule will enable a financial services ecosystem based on consumer centricity with the potential to facilitate a more competitive and vibrant marketplace, writes Steve Boms.

The leader of the Financial Technology Association sees a federal court battle over the Consumer Financial Protection Bureau ...

Consumer watchdog groups say the CFPB quietly dropped at least 21 enforcement actions, many against repeat offenders. Agency ...

The Biden-era Consumer Financial Protection Bureau exceeded Congress’s intent when it used a mandate giving customers access ...

In its October 2023 request for public comment, the CFPB advised that Section 1033 would “provide basic standards for data access; and promote fair, open, and inclusive industry standards.” ...

Banking groups argue that the rule, created under Section 1033 of the Dodd-Frank Act, was an overstep in the CFPB’s authority.

Section 1033 definitely has its proponents and detractors. “The US is now positioned on par with rest of the world when it comes to open banking” - Laurent van Huffel, CEO, OpenFinity.

That move bends to bank groups that filed a lawsuit last year to block the Consumer Financial Protection Bureau rule aimed at ...