Empowering Consumer Data Access: The CFPB’s 2023 Proposed Rule and Its Impact on Open Banking and Payments

This session will discuss the 2023 Consumer Financial Protection Bureau’s proposed rule to address Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). Section 1033 aims to empower consumers by giving them the right to access and share their own financial data. The panel will discuss how Section 1033 and the concept of open banking may impact the payments infrastructure including merchant implications.