US EditionReversing course, CFPB says it will issue revised open banking rule
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Reversing course, CFPB says it will issue revised open banking rule
In a surprise announcement, the CFPB has said it will issue a revised Section 1033 open banking rule rather than simply killing the Biden Administration rule. “In light of recent events in the marketplace, the Bureau has now decided to initiate a new rulemaking to reconsider the Rule with a view to substantially revising it and providing a robust justification,” the administration said, in requesting a stay of a lawsuit filed by Forcht Bank and …
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