| Entities | |
| Topics and Issues | Consumer access to financial records (Dodd-Frank Sec. 1033) (7) Open banking (3) |
In June 2024, the CPFB announced its final rules “outlining the qualifications to become a recognized industry standard setting body, which can issue standards that companies can use to help them comply with the CFPB’s upcoming Personal Financial Data Rights Rule. Today’s rule identifies the attributes that standard setting bodies must demonstrate in order to be recognized by the CFPB. The rule also includes a step-by-step guide for how standard setters can apply for recognition and how the CFPB will evaluate applications.” The Bureau also released a step-by-step guide for how an entity can “apply for recognition as a standard setter.”