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CFPB | RIN: 3170-AA78 | Publication ID: Spring 2024 |
Title: Required Rulemaking on Personal Financial Data Rights | |
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 in October 2023. |
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Agency: Consumer Financial Protection Bureau(CFPB) | Priority: Other Significant |
RIN Status: Previously published in the Unified Agenda | Agenda Stage of Rulemaking: Final Rule Stage |
Major: Undetermined | Unfunded Mandates: No |
CFR Citation: 12 CFR 1001 12 CFR 1033 | |
Legal Authority: 12 U.S.C. 5533 12 U.S.C. 5481 |
Legal Deadline:
None |
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Timetable:
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Regulatory Flexibility Analysis Required: YES | Government Levels Affected: Undetermined |
Small Entities Affected: Businesses | Federalism: No |
Included in the Regulatory Plan: No | |
RIN Data Printed in the FR: Yes | |
Agency Contact: Michael Scherzer Office of Regulations Consumer Financial Protection Bureau Washington, DC 20552 Phone:202 435-7700 |