CFPB’s Proposed Open Banking Rule – Key Considerations
Event summary
On October 19, 2023, the Consumer Financial Protection Bureau (CFPB) issued a notice of proposed rulemaking to implement Section 1033 of the Dodd-Frank Act that would require certain financial institutions, fintech companies, and entities that offer consumer deposit accounts, credit cards or related payment-facilitation services to make consumer data more readily available to consumers and authorized third parties.
This webinar discussed the proposed rule, its potential impact on covered entities’ collection and use of financial data, and consumer protection obligations.
Speakers
- Michelle Rogers – Partner at Cooley
- Michael Egan – Partner at Cooley
- Sean Ruff – Partner at Cooley
- Jessica Pollet – Special counsel at Cooley
For more information, please email Rebecca Lanz.
Related contacts
This content is provided for general informational purposes only, and your access or use of the content does not create an attorney-client relationship between you or your organization and Cooley LLP, Cooley (UK) LLP, or any other affiliated practice or entity (collectively referred to as “Cooley”). By accessing this content, you agree that the information provided does not constitute legal or other professional advice. This content is not a substitute for obtaining legal advice from a qualified attorney licensed in your jurisdiction and you should not act or refrain from acting based on this content. This content may be changed without notice. It is not guaranteed to be complete, correct or up to date, and it may not reflect the most current legal developments. Prior results do not guarantee a similar outcome. Do not send any confidential information to Cooley, as we do not have any duty to keep any information you provide to us confidential. This content may be considered Attorney Advertising and is subject to our legal notices.