Preparing for the CFPB’s new open banking rule
Dec 13, 2022•17 min•Ep. 205
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Episode description
The Consumer Financial Protection Bureau (CFPB) plans to propose a new open banking rule in 2023 requiring financial institutions to share consumer data upon consumers’ requests. Along with the new parameters come fresh opportunities for exploitation of data from bad actors — and financial institutions should remain aware of gaps in the rule that fraudsters could take advantage by implementing authentication processes to secure consumer data.
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