CFPB’s Section 1033 Open Banking Rulemaking

Join this panel discussion with Meredith Fuchs, General Counsel
at Plaid, and Ben Maxim, Chief Digital Strategy and Information
Officer at Michigan State University Federal Credit Union,
highlighting initial takeaways from the Consumer Financial
Protection Bureau’s proposed rulemaking to establish open
banking and implement section 1033 of the Dodd-Frank Act. Fuchs
and Maxim cover the benefits and challenges of building APIs to
share consumer financial data and how your credit union should be
evaluating this transition to open banking as the CFPB works to
finalize its rule. 


 


Key Takeaways: 


Understand the objective of the CFPB’s Section 1033 open
banking rulemaking; 

Hear a credit union’s perspective regarding their journey to
build an API; and 

Delve into some unresolved issues from the CFPB’s proposed
rule.