CFPB Seeks Feedback on Consumer Access to Financial Records
The CFPB requested feedback on the development of regulations to implement Section 1033 of Dodd-Frank ("Consumer Rights to Access Information").
In an Advance Notice of Proposed Rulemaking, the CFPB stated that it is seeking stakeholder comments on, among other things:
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efficient and effective methods of implementing the financial record access rights for consumers under Section 1033;
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the potential scope of data that may be securely accessed, as well as related security, privacy and customer control considerations; and
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possible regulatory uncertainty stemming from interactions between Section 1033 and other statutes within CFPB jurisdiction, including the Fair Credit Reporting Act.
Comments on the proposal must be submitted within 90 days of its publication in the Federal Register.