Final rule

Required Rulemaking on Personal Financial Data Rights; Industry Standard-Setting

The Consumer Financial Protection Bureau (CFPB) is finalizing in part its proposed rule on personal financial data rights. This final rule establishes minimum attributes a standard-setting body must possess to receive CFPB recognition and to issue consensus standards when the full rule is finalized. The CFPB is also releasing its step-by-step guide for how to apply to be a recognized standard-setting body. The CFPB plans to finalize the remainder of the proposal regarding personal financial data rights this fall.