By Kyle Brasseur2023-10-19T18:59:00
The Consumer Financial Protection Bureau (CFPB) is moving forward its plan to give consumers more control over their personal financial data.
On Thursday, the CFPB proposed its personal financial data rights rule. The action builds upon a proposal outlined by the agency last year as part of its desire to accelerate the shift toward open banking.
“A more decentralized market structure will give consumers more control and minimize the ability for companies to take customers for granted,” said CFPB Director Rohit Chopra in a statement. “Our proposed rule builds on existing efforts in the industry today to promote decentralization.”
2024-02-26T21:01:00Z By Kyle Brasseur
Installment lender World Acceptance Corp. was the subject of the Consumer Financial Protection Bureau’s first use of a dormant legal provision allowing it to establish supervisory authority over more nonbank financial companies.
2023-11-07T21:02:00Z By Kyle Brasseur
The Consumer Financial Protection Bureau is seeking greater authority to supervise the activities of companies that offer services like digital wallets and payment apps on par with how the agency oversees large banks, credit unions, and other financial institutions.
2023-10-30T22:25:00Z By Aaron Nicodemus
Eric Halperin, enforcement director at the Consumer Financial Protection Bureau, said his office will be adding 75 new full-time employees as part of an expansion of its efforts to protect consumers from misuse of their personal data.
2025-09-15T16:47:00Z By Ruth Prickett
You can already buy a coffee with your phone, but soon you could start a job or buy a house with it. Digital compliance wallets holding certificates and documents on smartphones are gaining traction worldwide.
2025-09-10T23:26:00Z By Ruth Prickett
Delays to the U.K.’s Audit Reform and Corporate Governance Bill and creation of the ARGA regulator have sparked criticism. On Sept. 8, 66 MPs sent a letter to the Prime Minister urging reforms be returned to the Parliamentary agenda.
2025-09-08T05:00:00Z By Oscar Gonzalez
The FTC officially withdrew its appeal in a federal court case over its ban on employer noncompete clauses that it passed last year. The agency, however, says it wants public input regarding the effects of employer noncompete agreements.
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