On Oct. 19, 2023, the CFPB released a proposed rule that, if finalized in its present form, would require covered financial institutions to provide consumers and authorized third parties with access and portability options for their financial data. The CFPB’s proposed rule, called the “Personal Financial Data Rights” rule, would implement Section 1033 of Title X of the Dodd-Frank Act, a to-date dormant provision of law enacted by Congress more than a decade ago.
CFPB Issues Proposed ‘Personal Financial Data Rights’ Rule
