The Consumer Financial Protection Bureau’s Rule 1033 remains in regulatory limbo with compliance deadlines suspended. Yet, financial institutions recognize that market forces, consumer expectations, and competitive dynamics drive adoption independent of regulatory mandates.
This report examines market forces reshaping open banking and provides strategic guidance for navigating unprecedented regulatory uncertainty. It analyzes nearly 14,000 public comments submitted to the CFPB and documents how large banks establish de facto standards where regulators have not.
Clients of Datos Insights’ Retail Banking & Payments service can download this report.
This report mentions Akoya, Alkami, Bank Policy Institute, Banno, Betterment, Blockchain Association, Capital One, CCIA (Computer & Communications Industry Association), CDIA (Consumer Data Industry Association), CFPB (Consumer Financial Protection Bureau), Citibank, Credit Karma, CSI/Apiture, EPIC, FDATA, FDX (Financial Data Exchange), FHN Financial, Finicity, FIS, JPMorgan Chase, Kentucky Bankers Association, Mastercard , Morningstar, MX, Navy Federal Credit Union, NerdWallet, PayPal, Plaid, PNC, Prism, Rocket Money, SIIA (Software & Information Industry Association), TechNet, Trustly, Velera, Wells Fargo, Wise, Xero, and Yodlee.
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