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.” — Financial Technology Association CEO Penny Lee