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The OCC, FRB and FDIC requested comment on a set of rules as part of a process to identify "outdated" or "unnecessary" regulatory requirements on insured depository institutions and their holding companies.
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 reminded insured depository institutions on requirements for reporting estimated uninsured deposits.