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 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.
The FDIC proposed governance and risk management guidelines that would apply to all insured state nonmember banks, state-licensed branches of foreign banks and insured state savings associations with assets of $10 billion.