CFPB open banking rule challenged by Bank Policy Institute lawsuit
Consumer Financial Protection Bureau issued Final rule challenged via Administrative Procedure Act lawsuit affecting Bank Policy Institute on October 22, 2024.
- Primary
- Consumer Financial Protection Bureau
- Counterparty
- Bank Policy Institute
- Structure
- Final rule challenged via Administrative Procedure Act lawsuit
- Date
- October 22, 2024
- Sub-sector
- Financial Data / Open Banking
Bank industry sued to block CFPB's open banking rule, alleging it exceeds statutory authority and endangers data security by limiting banks' risk management discretion.
Source: americanbanker.com