Top Tweets for #Section1033
#Section1033 BIG TECH PAY YOUR SHARE. The consumers do NOT want to foot the bill. We are strapped too much already. #Paypal #Venmo #CashApp #Zelle #WesternUnion #AppleCash #Remitly
Open finance isn’t about banks vs. fintechs—it’s about whether consumers can move their data and force the market to compete on price, quality, and service.
New op-ed by #SteveBoms in @fintech_weekly: https://t.co/ZQ6Qp3BIQT
#Section1033 #OpenFinance
I enjoyed speaking this morning on personal #financial #data sharing & #Section1033 with @jpmorgan @fintechassoc and @PNCBank @bankpolicy and @thehill at "Modern Money: The Next Chapter of #Banking, #Regulation, and Financial Trust." #fintech #privacy #cfpb @consumerfed
Now a panel on consumer data & open banking—examining how access, security, and innovation intersect—with:
- Natalie Talpas (EVP, @PNCBank),
- Kate Prochaska (MD, @jpmorgan),
- Adam Rust (@ConsumerFed)
- Angelena Bradfield (@FinTechAssoc).
#TheHillEconomy https://t.co/J1Mg6DW59o
FDATA is proud to stand with fellow #fintech, #crypto, and #MainStreet trades in urging @realDonaldTrump to defend the #openbanking rule—protecting consumer data rights and ensuring Americans can choose the financial tools that work best for them.
#Section1033 #FinancialFreedom
1/ Today, we led a group of #fintech, #crypto, and #MainStreet business trades in urging @realDonaldTrump to uphold the #openbanking rule amid anticompetitive actions by some of the nation’s largest banks.
The #CFPB #Section1033 rule prevented banks from charging #openbanking data sharing fees. If banks can charge punitive fees, it protects credit card interchange and thwarts #PayByBank. Story here: #deregulation is threatening financial innovation.
Thank you @RepFrenchHill , lets add a repeal of the @CFPB ‘s rule writing ability on #CommunityBanks in general but especially a repeal of #Section1071 and #Section1033
Make them focus only on consumer abusing #TBTF and leave community banks alone!
@realDonaldTrump
@ICBA
@Robert_Aderholt
@SenKatieBritt
@SenTuberville
I have a plan to make community banking great again in this country. I welcome feedback on these principles and look forward to advancing @realDonaldTrump's economic growth agenda and bringing fresh ideas to support banks of all sizes.
Read more⬇️
https://t.co/u4u9HkEVmv
Research says the tenure of a primary checking account is more than 15 years, even though half say they would be open to changing accounts. The @CFPB #section1033 rule could give them the opportunity. https://t.co/7opYoco63g
An interesting aspect of the @cfpb #Section1033 rule is the role it gives for "standard setting bodies" to determine APIs and data sharing standards + its requirement for SSBs to take #consumer input. See in 1033.141.
So, will the #Section1033 data sharing rule be the new "fire your bank" app? One of its touted benefits is to reduce barriers to switching bank accounts. Anything that empowers consumers is a plus.
This post from @AlexH_Johnson connects the dots between the CFPB's work to protect #consumer financial data in #Section1033 and #FCRA. Naturally, many implications for #fintech and #SurveillanceCapitalism https://t.co/sdPd9E6yv8
Today, Steve Boms, Executive Director, FDATA NA, joined forces with our members @Plaid and @CrossRiverBank at the @ElecTranAssoc's University (ETAU) on Capitol Hill to shed light on the intricacies of open banking and Section 1033. #OpenBanking #Section1033 #FinanceInnovation
Last month, FPF Policy Counsel @DanielBerrick and Senior Fellow Zoe Strickland filed comments with the @CFPB in response to the NPRM regarding personal financial data rights. Read our recommendations on the FPF Blog: https://t.co/KSwQ0xhg6F ⬇️ #Section1033
🚨#NEW: We provide recommendations to ensure that open banking develops in the U.S. with privacy at its core in our submitted comments to the @CFPB.
Read our full comments from FPF’s @DanielBerrick & Senior Fellow Zoe Strickland. ⬇️ #Section1033
https://t.co/KSwQ0xhg6F
What should consumer financial institutions know about the CFPB’s plan to implement #section1033 of the Dodd-Frank Act, which would require institutions to provide consumers access to #data about their financial products or services? Our team explores. https://t.co/eZRxE1GeJO
The new rule is made possible by #Section1033 of the #ConsumerFinancialProtectionAct, which was passed in 2010.
29/
Experts say it takes a month to switch bank accounts. B/c you’ll risk forgetting a subscription or a recurring debit. Of course. But come on. That’s crazy. You can apply for a mortgage in 10 minutes b/c banks can streamline data sharing. This is why we need @cfpb #Section1033.
Open Banking is coming!
The Consumer Financial Protection Bureau is writing regulation to implement #Section1033 of the #DoddFrankAct. Section 1033 (#OpenBanking) is fairly straightforward, but the rules pertaining to it could prove to be quite complex.
https://t.co/DpeDS6Yimg
Expanding the scope of the #openbanking #section1033 rule would provide a fuller financial picture, so people can benefit even more from #fintech apps like budgeting and financial health tools.
Read more in @bloomberglaw @reporterev's latest piece ⬇️
https://t.co/esMOMVuVhs
Hot off the presses, Open Banking Drives Consumer Benefits and Choice (but you already knew that, right?) https://t.co/N6L5vCDOOX
Here is my latest piece @ @forbes that discusses #openbanking in the U.S. and President Biden's recent executive order: https://t.co/XNz9dMed7g
#banking #fintech #competition #CFPB #doddfrankact #section1033
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