Bloomberg Law: Open Banking Rule Backers Push CFPB to Expand Eligible Data Sets

The CFPB is facing pressure to expand coverage of its open banking rule to include mortgage, student and auto loan, and other credit accounts that advocates say will provide people with a more complete financial profile…Trade groups like FDATA North America, which represents data aggregators like Plaid, and the Financial Technology Association, which represents fintechs,…

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Bloomberg Law: Buy Now, Pay Later Offers Some Consumers Cheaper Credit: CFPB

Buy now, pay later products can offer consumers facing mounting debt a cheaper option than high- interest credit cards but lack some other protections of traditional financial tools, the Consumer Financial Protection Bureau said. 

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The Hill (FTA Op-Ed): Big banks choose fear-mongering over facts when it comes to fintech

Big banks have enjoyed a competitive advantage for over a century, but today, consumers are driving a shift in the market and demanding a system that works for them. That’s why we need to modernize data access and privacy rules for both fintechs and banks. The Consumer Financial Protection Bureau’s (CFPB) Section 1033 rulemaking to…

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