It’s still premature to say that open banking and pay by bank have truly arrived in the U.S. However, with the Consumer Financial Protection Bureau (CFPB) issuing the final Rule 1033 draft on Oct. 22, they certainly have more momentum. The ruling seems to have...
The Consumer Financial Protection Bureau released its final rule on data-sharing Tuesday (Oct. 22). But the issue is far from over. The battle between banks and the CFPB over what is commonly called Section 1033 is shaping up to be a fight waged in court due...
For FinTechs in general, and the FinTech IPO Index in particular, this past week has been dominated by regulators, new rules related to data and disclosure, and legal wrangling in the courts. Shares of Sezzle surged 19.8% through the past five sessions, while Affirm lost...
The Consumer Financial Protection Bureau (CFPB) swung for the fences this morning (October 22) as it issued the final version of its long-awaited Rule 1033 on personal financial data rights. As expected, the rule will mark a significant step toward open banking in the United States....
October 25, 2024
For FinTechs in general, and the FinTech IPO Index in particular, this past week has been dominated by regulators, new rules related to data and disclosure, and legal wrangling in the courts. Shares of Sezzle surged 19.8% through the past five sessions, while Affirm lost 4.3% through the same time frame. As PYMNTS reported, the […]
September 17, 2024
Open banking — relatively well-entrenched in Europe, nascent here in the United States — is taking shape largely by directive, through regulations and standards that give a roadmap to how...
November 07, 2024
American Express has formed a deal with financial data company MX Technologies, giving their users access to improved financial management capabilities. The API-powered data access agreement will offer customers new digital banking options by connecting their American Express accounts with third-party financial institutions and FinTech apps through MX, the companies said in a Thursday (Nov. […]
October 22, 2024
The Consumer Financial Protection Bureau (CFPB) swung for the fences this morning (October 22) as it issued the final version of its long-awaited Rule 1033 on personal financial data rights. As...
July 17, 2024
The banking industry wants more time to comply with a new rule governing consumer financial data. The open banking regulation in question is the Consumer Financial Protection Bureau (CFPB)’s “Proposed...
June 05, 2024
The Consumer Financial Protection Bureau (CFPB) has taken another step in its push to accelerate open banking. The U.S. consumer watchdog on Wednesday (June 5) announced it had finalized a...
