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CFPB RIN: 3170-AA78 Publication ID: Fall 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 must 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.  The Bureau has taken a number of steps to gather information and perspectives from the public, financial institutions, consumer advocacy groups and others concerning current practices with respect to financial data access and data sharing and to learn more about this complex and rapidly-changing market.  Most recently, in November 2020, the Bureau published an Advance Notice of Proposed Rulemaking (ANPRM) concerning implementation of section 1033, accepting comments until February 2021.  The Bureau is reviewing comments received in response to the ANPRM and is considering those comments, as well as ongoing market monitoring efforts, as it assesses potential next steps, including whether a Small Business Review Panel is required pursuant to the Regulatory Flexibility Act.

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 Activity  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:
Terry J. Randall
Office of Regulations
Consumer Financial Protection Bureau
Washington, DC 20552
Phone:202 435-7700