United States of America: Consumer Financial Protection Bureau Personal Financial Data Rights Rule
Progress
Scope
Timeline of events
Implemented obligations for depository institutions that hold less than USD 1.5 billion in total assets outlined in Rule on Personal Financial Data Rights
On 1 April 2030, the final rule on personal financial data rights came into force for depository institutions that hold less than USD 1.5 billion in total assets but more than USD 850 million. The rule mandates financial institutions to provide cons…
SourceImplemented obligations for depository institutions that hold at least USD 1.5 billion in total assets outlined in Rule on Personal Financial Data Rights
On 1 April 2029, the final rule on personal financial data rights came into force for depository institutions that hold at least USD 1.5 billion in total assets but less than USD 3 billion. The rule mandates financial institutions to provide consume…
SourceImplemented obligations for depository institutions that hold at least USD 3 billion in total assets outlined in Rule on Personal Financial Data Rights
On 1 April 2028, the final rule on personal financial data rights came into force for depository institutions that hold at least USD 3 billion in total assets but less than USD 10 billion. The rule mandates financial institutions to provide consumer…
SourceImplemented obligations for depository institutions that hold at least USD 10 billion in total assets outlined in Rule on Personal Financial Data Rights
On 1 April 2027, the final rule on personal financial data rights came into force for depository institutions that hold at least USD 10 billion in total assets but less than USD 250 billion or non-depository institutions that did not generate USD 10…
SourceImplemented obligations for depository institutions with at least USD 250 billion in total assets outlined in Rule on Personal Financial Data Rights
On 1 April 2026, the final rule on personal financial data rights came into force for depository institutions with at least USD 250 billion in total assets and non-depository institutions with at least USD 10 billion in revenue. The rule mandates fi…
SourceAdopted Final Rule on Personal Financial Data Rights by Consumer Financial Protection Bureau
On 22 October 2024, the Consumer Financial Protection Bureau (CFPB) adopted the final rule on personal financial data rights. The rule mandates financial institutions to provide consumers with their data in a secure and usable format upon request. T…
SourceClosed consultation on CFPB Personal Financial Data Rights Rule
On 29 December 2023, the Consumer Financial Protection Bureau (CFPB) closed its consultation as part of its rulemaking proposing a Personal Financial Data Rights rule. The rule would create consumer rights granting control over their personal financ…
SourceOpened consultation on CFPB Personal Financial Data Rights Rule
On 19 October 2023, the Consumer Financial Protection Bureau (CFPB) opened a consultation as part of its rulemaking proposing a Personal Financial Data Rights rule. The rule would create consumer rights granting control over their personal financial…
SourceClosed consultation on CFPB Rulemaking on Personal Financial Data Rights
On 25 January 2023, the Consumer Financial Protection Bureau (CFPB) closed the consultation on its its proposals for a Rule on Personal Financial Data Rights. The proposal would apply to all entities that fall under the definition of a financial ins…
SourceOpened consultation on CFPB Rulemaking on Personal Financial Data Rights
On 27 October 2022, the Consumer Financial Protection Bureau (CFPB) announced its intention to issue a Rule on Personal Financial Data Rights, opening a consultation on the draft suggestions until 25 January 2023. The proposal would apply to all ent…
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