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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The Board of Governors of the Federal Reserve adopted new operational risk management requirements for systemically important designated clearing organizations.
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."
Federal Reserve Board Vice Chair for Supervision Michael S. Barr promoted incorporating "exploratory scenarios" to address limitations in the FRB's current stress test program for the U.S. banking system.