Episode 41: Open Banking

This episode explores the coming financial regulation known as Open Banking. This is being rolled out through the Consumer Financial Protection Bureau (CFPB). Specifically, section 1033 of the Dodd-Frank Act requires banks to make available to consumers and authorized third parties’ certain data relating to consumers’ transactions and accounts. Everyone needs to ask themselves: do you want big tech getting all your banking data? Please reach out to your local U.S. congressional representative and inquire about Open Banking.

https://www.federalregister.gov/documents/2020/11/06/2020-23723/consumer-access-to-financial-records