Required Rulemaking on Personal Financial Data Rights

Document 2024-25079 is a Final Rule published by the Consumer Financial Protection Bureau in the Federal Register on November 18, 2024, with an effective date of January 17, 2025. The Consumer Financial Protection Bureau (CFPB) is issuing a final rule to carry out the personal financial data rights established by the Consumer Financial Protection Act of 2010 (CFPA). The final rule requires banks, credit unions, and other financial service providers to make consumers' data available upon request to consumers and authorized third parties in a secure and reliable manner; defines obligations for third parties accessing consumers' data, including important privacy protections; and promotes fair, open, and inclusive industry standards. View the original at https://www.federalregister.gov/documents/2024/11/18/2024-25079/required-rulemaking-on-personal-financial-data-rights.

No. Document 2024-25079 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.