As regulators create new ‘open banking’ rules to make it easier for consumers to share financial information, smaller banks urge CFPB to consider more gradual technology shift and weigh costs I’m here.
The Consumer Financial Protection Bureau’s Open Banking proposal aims to allow consumers to seamlessly switch between financial service providers, giving banks and credit card We are requesting that you develop technology that you can use to share with your emerging competitors. Public comment on his CFPB outline for that plan was closed on Jan. 25.
Credit unions and community banks asked the CFPB…
