The Financial Technology Association released the following statement today in response to the Consumer Financial Protection Bureau’s launch of Section 1033 rulemaking:
“We applaud the CFPB’s action today to strengthen consumer data rights, which are foundational to a vibrant open finance ecosystem. We look forward to working with the Bureau to ensure that the final rule supports ongoing innovation and competition in the marketplace. Open finance in the US and around the world has led to more inclusive, competitive financial systems for consumers.” — said FTA President and Chief Executive Officer Penny Lee.
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The Financial Technology Association (FTA) represents industry leaders shaping the future of finance. We champion the power of technology-centered financial services and advocate for the modernization of financial regulation to support inclusion and responsible innovation.