Preparing for the CFPB’s new open banking rule
The Buzz on Bank Automation News
English - December 13, 2022 22:03 - 16 minutes - 30.6 MB - ★★★★ - 3 ratingsBusiness fintech technology investing banking lending venture capital Homepage Download Apple Podcasts Google Podcasts Overcast Castro Pocket Casts RSS feed
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The Consumer Financial Protection Bureau (CFPB) plans to propose a new open banking rule in 2023 requiring financial institutions to share consumer data upon consumers’ requests. Along with the new parameters come fresh opportunities for exploitation of data from bad actors — and financial institutions should remain aware of gaps in the rule that fraudsters could take advantage by implementing authentication processes to secure consumer data.