Key Insights - 1033

On October 22, 2024, the U.S. Consumer Financial Protection Bureau (CFPB) finalized a rule that will giveconsumers greater rights, privacy, and security over their personal financial data. The rule requires financialinstitutions, credit card issuers, and other financial providers to unlock an individual’s personal financialdata and transfer it to another provider at the consumer’s request for free. As Open Finance NetworkCanada (OFNC), we believe that we may draw essential lessons from the CFPB’s 1033 rule to advanceCanada’s Consumer-Driven Banking Framework... click download to continue reading.