CFPB seeks information on consumer data-sharing

The Consumer Financial Protection Bureau (CFPB) released a request for information (RFI) regarding the use and security of consumers’ financial records, “and to what extent consumers have control over [them].” According to the Wall Street Journal, the RFI reflects CFPB concerns “that traditional banks have erected improper hurdles to [consumer] data-sharing,” impeding the ability of fintech firms to grow and innovate.

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