Required Rulemaking on Personal Financial Data Rights; Industry Standard-Setting

Document 2024-12658 is a Final Rule published by the Consumer Financial Protection Bureau in the Federal Register on June 11, 2024, with an effective date of July 11, 2024. The Consumer Financial Protection Bureau (CFPB) is finalizing in part its proposed rule on consumer data rights under section 1033 of the Consumer Financial Protection Act. This final rule establishes minimum attributes a standard-setting body must possess to receive CFPB recognition and to issue consensus standards when the full rule is finalized. The CFPB is also releasing its process for how standard setters apply for CFPB recognition. View the original at https://www.federalregister.gov/documents/2024/06/11/2024-12658/required-rulemaking-on-personal-financial-data-rights-industry-standard-setting.

No. Document 2024-12658 is not classified as economically significant under Executive Order 12866. Economically significant rules require OIRA review and are estimated to have impacts of $100 million or more per year.