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CFPB RIN: 3170-AA78 Publication ID: Spring 2021 
Title: Consumer Access to Financial Records 

In recent years, the availability of consumer financial account data in electronic form, often in real time or near real time, has helped consumers understand their finances and make better-informed financial decisions in a variety of ways.  For example, research has indicated that the availability of certain consumer financial account data may improve underwriting and expand access to credit.  At the same time, the means by which these data are accessed, transmitted, stored, and used can implicate significant privacy, security, and other consumer protection concerns.  Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank Act) provides that, subject to rules prescribed by the Bureau, covered persons shall make available to consumers, upon request, transaction data and other information concerning a consumer financial product or service that the consumer obtains from a covered person. Section 1033 also states that the Bureau shall prescribe by rule standards to promote the development and use of standardized formats for information made available to consumers.  In November 2016, the Bureau issued a Request for Information seeking comment from the public to better understand the consumer benefits and risks associated with market developments that rely on access to consumer financial account and account-related information.  In October 2017, the Bureau issued Consumer Protection Principles for Consumer-Authorized Financial Data Sharing and Aggregation to express the Bureau’s vision for the data aggregation market.  The Bureau hosted a symposium on consumer-authorized financial data sharing in February 2020.  In November 2020, the Bureau issued an Advance Notice of Proposed Rulemaking (ANPRM) concerning consumer data access to implement section 1033.  The Bureau is reviewing comments received in response to the ANPRM and is considering those comments as it assesses potential next steps. 

Agency: Consumer Financial Protection Bureau(CFPB)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Prerule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: Not Yet Determined     (To search for a specific CFR, visit the Code of Federal Regulations.)
Legal Authority: 12 U.S.C. 5533   
Legal Deadline:  None
Action Date FR Cite
Request for Information  11/22/2016  81 FR 83806   
Principles Statement  10/18/2017 
ANPRM  11/06/2020  85 FR 71003   
ANPRM Comment Period End  02/04/2021 
Pre Rule Stage  04/00/2022 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Small Entities Affected: Businesses  Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Thomas L. Devlin
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700