CFPB Director Rohit Chopra warned that anti-competitive behavior by industry participants will not be allowed to impede the CFPB's required shift to open banking.
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CFPB Enforcement Director Eric Halperin identified areas of evolving risk that can disrupt a "level playing field" in the market for consumer financial products.
The CFPB proposed a rule to implement a section of the Consumer Financial Protection Act on consumer-authorized access to financial data, including "data about their use of checking and prepaid accounts, credit cards, and digital wallets."
The FDIC set a comment deadline of December 11, 2023 for proposed governance and risk management guidelines that would apply to all state insured depository institutions with assets of $10 billion. The comment deadline was published in the Federal Register.
The Office of the Comptroller of the Currency named Monica Fuentes Freas as Deputy Comptroller for Large Bank Supervision.