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Section 1033 of the Consumer Financial Protection Act (CFPA) provides that, subject to rules prescribed by the CFPB, a covered entity (for example, a bank) must make available to consumers, upon request, transaction data and other information concerning a consumer financial product or service that the consumer obtains from the covered entity. Section 1033 also states that the CFPB must prescribe by rule standards to promote the development and use of standardized formats for information made available to consumers. The CFPB released a Notice of Proposed Rulemaking in October 2023. In June 2024, the CFPB released a final rule, partially finalizing the NPRM with respect to recognition of standard-setting bodies by the CFPB.