Banks Brace for Era of Consumer Data Sharing

Published on October 22, 2024

The CFPB says bank clients will be able to demand, download and transfer their highly-coveted data to other financial firms for free. The final rule should cover checking accounts, credit cards and digital wallets, but not mortgages, student loans or car loans.

Continue reading on website
Other news

SEC Chief Defends Texting Crackdown

October 22, 2024
"Hundreds of people at dozens of firms were blowing right past" off-channel communication rules, Gary Gensler said.      Related StoriesWisdomTree Hit With $4M Fine Over ESG FundsIRS Clarifies When Retirement Plan Overpayments Can Be Rolled OverCarson Group, Fired Exec to Update Judge on Potential Settlement

SEC to Boost Scrutiny of AI Tools Used by Advisors, Brokers

October 22, 2024
Earlier this year, the regulator fined two money managers for making allegedly bogus claims about their use of artificial intelligence.      Related StoriesSEC Chief Defends Texting CrackdownBanks Brace for Era of Consumer Data SharingIRS Clarifies When Retirement Plan Overpayments Can Be Rolled Over