The director of the Consumer Financial Protection Bureau is slated to speak at DC Fintech Week on Wednesday.
on Tuesday, a measure that would require financial services firms to unlock an individual's personal financial data and then transfer it for free to another provider at the request of the customer.The rule would apply to data associated with a range of products, spanning from bank accounts and credit cards to payment apps and mobile wallets. The bureau said it would also allow customers to comparison shop more easily for favorable rates on deposits or credit.
"By allowing consumers to permission their personal financial data, and make it over time more seamless, people can more easily sign up, switch accounts, and take their financial history with them," Chopra said Tuesday in– whose members include Plaid and PayPal – said the regulation"will increase competition, improve consumers' choices, and drive momentum for future innovations that benefit customers.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Watch live as CFTC Chairman Rostin Behnam speaks at DC Fintech WeekThe chairman of the Commodities Futures Trading Commission will speak in Washington, D.C. on Wednesday.
Read more »
Watch PayPal, Visa crypto execs discuss the future of stablecoins and regulation at DC Fintech WeekDC Fintech Week is set to host a panel Wednesday morning called “Stablecoins Unshackled: New Features, Integrations and Frontiers.”
Read more »
Watch the Week 6 N.J. football Games of the Week LIVE Oct. 10-12Watch six Top-20 squads in live action as part of our Week 6 broadcast slate.
Read more »
Watch the Week 5 N.J. football Games of the Week LIVE Oct. 4-5Three fascinating matchups are on our Week 5 live-stream slate.
Read more »
Watch the Week 4 N.J. football Games of the Week LIVE Sept. 27-28Check out No. 13 Rumson-Fair Haven at Middletown South and No. 5 Don Bosco Prep at No. 1 Bergen Catholic on our Week 4 live-stream slate.
Read more »
CFPB takes aim at illegal and predatory medical debt collection practicesThe Consumer Financial Protection Bureau issued new guidance aimed at illegal and predatory medical debt collection tactics.
Read more »