CFPB request for information regarding consumer access to financial records

The Consumer Financial Protection Bureau has announced a request for information regarding consumer access to financial records:

The Dodd-Frank Wall Street Reform and Consumer Protection Act provides for consumer rights to access financial account and account-related data in usable electronic form. The [CFPB] is seeking comments from the public about consumer access to such information, including access by entities acting with consumer permission, in connection with the provision of products or services that make use of that information. Submissions to this Request for Information will assist market participants and policymakers to develop practices and procedures that enable consumers to realize the benefits associated with safe access to their financial records, assess necessary consumer protections and safeguards, and spur innovation.

The comment deadline is in mid-February (90 days from the date yesterday's CFPB notice is published in the Federal Register).

The "notice and request for information" is here.

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