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| CFPB | RIN: 3170-AB25 | Publication ID: Spring 2024 |
| Title: ●Personal Financial Data Rights Supplemental Rulemaking | |
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Abstract:
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 (NPRM) to implement section 1033 in October 2023. In that NPRM, the CFPB proposed to prioritize Regulation E accounts, Regulation Z credit cards, and payment facilitation products and services for coverage in the rule. The CFPB continues to review comments on its NPRM and is considering how it will implement CFPA section 1033 with respect to other consumer financial products and services through supplemental rulemaking. |
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| Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Substantive, Nonsignificant |
| RIN Status: First time published in the Unified Agenda | Agenda Stage of Rulemaking: Long-Term Actions |
| Major: Undetermined | Unfunded Mandates: No |
| CFR Citation: 10 CFR 1033 | |
| Legal Authority: 12 USC 5533 | |
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Legal Deadline:
None |
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Timetable:
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| Regulatory Flexibility Analysis Required: Undetermined | Government Levels Affected: Undetermined |
| Federalism: Undetermined | |
| Included in the Regulatory Plan: No | |
| RIN Data Printed in the FR: No | |
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Agency Contact: Thomas L. Devlin Office of Regulations Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7700 |
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