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Thoughts on 1033 and Open Banking

Innovative Payments Association

The proposed rule would require banks, credit unions, and other financial services companies to share account and transaction data with consumers and authorized third parties. On October 31 , the Consumer Financial Protection Bureau published its proposed rule on open banking.

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The shifting EWA regulatory framework and its impact on bank partnerships and instant payment adoption

Tearsheet

Many banks and credit unions are moving quickly to offer RTP capabilities to their business clients, who are in turn looking to offer EWA options to employees,” Jim Colassano, SVP of product development and strategy at The Clearing House, told Tearsheet.

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CFPB Finalizes Rule Limiting Credit Card Late Fees

Global Fintech & Digital Assets

Challenges Expected Like the original proposal, the Rule is facing intense criticism from market participants and trade groups representing banks and credit unions. The prominent trade group asserted that the CFPB “exceeded its statutory authority” in issuing the Rule.

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