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3 articles covering "CFPB"
The CFPB's landmark open banking rule missed its April 1 compliance deadline after a court injunction and agency reconsideration, but major banks are forging private data-sharing deals that may shape the market before regulators act.
The CFPB's April 1 compliance deadline for its landmark Personal Financial Data Rights rule passed without enforcement after a federal judge enjoined the regulation and the agency itself declared it unlawful, leaving the future of U.S. open banking to a market moving faster than its regulators.
The UK's FCA will enforce full oversight of BNPL products from July 15, while New York has proposed the first comprehensive state licensing framework — filling a gap left by the CFPB's withdrawal of federal consumer protections.