CFPB ’deluged’ with comments on Open Banking!

The CFPB collected approximately 14,000 comments on the 1033 rule aka Open Banking rule during the open comments period. The Open Banking debate drew comments from many different groups, which included banks, fintechs, advertisers, food suppliers, consumer advocates, convenience stores, credit unions, grocers, retailers, retirees, libertarians, mortgage lenders, taxpayers, and cryptocurrency groups. Everyone involved arguing for or against this rule. This is one hot topic! This episode examines an article from Banking Dive titled “CFPB deluged with open banking comments.” A link to the article is included below.

Link: CFPB deluged with open banking comments | Payments Dive