# The U.S. Consumer Financial Protection Bureau (CFPB) has reignited discussions around its 'open banking' regulations.

*fintech · news · 2025-08-21 · Devdiscourse*

## Key points

- The CFPB has reopened the rulemaking process for 'open banking' consumer data regulations.
- These regulations are required under the 2010 Dodd-Frank law but have faced industry opposition.
- The CFPB is now actively seeking public input to inform how these consumer data rights should be implemented.
- Past finalized rules under the Biden administration were legally challenged by the banking sector.
- The renewed regulatory effort specifically aims to balance consumer rights with industry concerns.

The U.S. Consumer Financial Protection Bureau (CFPB) has reignited discussions around its 'open banking' regulations, aiming to give consumers more control over their personal data shared between banks and the growing financial technology sector. Facing industry disputes over control measures, the CFPB solicited public input on the best approach to implement these consumer data rules, which are mandated by the 2010 Dodd-Frank financial reform law. The law intends to ensure that consumers can access their financial data, such as account details and transaction history, on request. While these regulations were previously finalized under the Biden administration, they drew legal opposition from the banking industry, which had criticized the previous approach. The latest effort seeks to balance industry concerns with consumer rights.

**Countries:** United States

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/technology/3549337-cfpb-reinvigorates-open-banking-reform-effort)

---

Canonical: https://newsio.io/n/dbef0add-9033-45e9-8101-e1c868f212dd/the-u-s-consumer-financial-protection-bureau-cfpb-has-reignited-discussions-arou
Summarized by Newsio from Devdiscourse. https://newsio.io/how-it-works