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When Will The US Open Banking Rule Come Into Force? 

Open Banking Excellence

Your guide to the Consumer Financial Protection Bureau's (CFPB) imminent proposals for a new regulatory framework governing “Personal Financial Data Rights” The US will propose a new “Open Banking Rule” this year which will set the foundations for an ecosystem with the potential to become the largest in the world.

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Fifth Third Bank Sued By CFPB Over Fake Accounts

PYMNTS

The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Cincinnati-based Fifth Third Bancorp alleging that employees opened accounts for customers without their consent in an effort to reach sales targets, according to reports on Tuesday (March 10). The CFPB filed a complaint with the U.S.

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Consumer Financial Protection Bureau Seeks Advice On Financial Data Access

PYMNTS

The nation’s consumer protection agency is seeking input on rule changes to third-party access to individual financial records. The agency is seeking information that will help it address competing perspectives, including how it might implement financial access rights described in the Dodd-Frank Act.

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Banks Line Up To Challenge CFPB

PYMNTS

Things are getting tougher for the Consumer Financial Protection Bureau (CFPB) under the new political administration. More banks are now willing to challenge CFPB enforcement actions, said The Wall Street Journal. The controversial U.S.

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CFPB Sues Student Loan Servicer Navient

PYMNTS

The Consumer Financial Protection Bureau (CFPB) announced yesterday (Jan. The CFPB suit alleges that Navient, formerly part of Sallie Mae, has been in violation of the Dodd-Frank Wall Street Reform and Consumer Protection Act, the Fair Credit Reporting Act and the Fair Debt Collections Practices Act.

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In Europe, Single Data Market Looms?

PYMNTS

CFPB Files Suit Against Citizens Bank. Separately, late last week, the Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Citizens Bank. The suit, filed in Rhode Island, alleges that Citizens Bank violated federal consumer protection laws during the period between 2010 to 2016.

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Is US Financial Regulatory Reform Dead or Ready for Take Off?

FICO

In June, the House adopted, along a party line vote, the Choice Act, which aims to make broad changes to the 2010 Dodd-Frank statute. Many are also optimistic that new FCC leadership will result in much-needed reform in the area of Telephone Consumer Protection Act (TCPA). And now there is even more on Congress’s plate.