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You Wanna Break Up With Your Bank? The CFPB Wants to Help You Do It.
Oct. 31, 2023, 1:14 p.m. | Cory Doctorow
Deeplinks www.eff.org
The Consumer Finance Protection Bureau has proposed a new “Personal Financial Data Rights” rule that will force your bank to make it easy for you to extract your financial data so that you can use it to comparison shop for a better offer, and switch to another bank with just a few clicks.
This is a very good idea, provided it’s done right. Done wrong, it could be a nightmare. Below, we explain what the Bureau should do to avoid …
bank bureau cfpb competition consumer data easy extract finance financial financial data offer personal protection rights shop switch
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