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Market
Public perception of data privacy under open banking rule by end of 2025?
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Resolution / Starting Odds
Improved perception • 25%
Worsened perception • 25%
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Mixed opinions • 25%
Public opinion surveys or studies by consumer advocacy groups
Story
CFPB Finalizes 'Open Banking' Rule on October 22, 2024 to Enhance Consumer Data Access
Oct 22, 2024, 09:15 AM
On October 22, 2024, the US Consumer Financial Protection Bureau (CFPB) finalized a rule to promote 'open banking,' granting consumers greater access to their financial data. This rule, part of the Dodd-Frank law, aims to make it easier for consumers to switch financial service providers while ensuring privacy and security. The Biden administration supports the rule, which is intended to accelerate a shift towards open banking and protect against intrusive financial surveillance. CFPB Director Rohit Chopra emphasized the importance of consumer rights and data protection.
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