In October, the CFPB proposed a rule, Personal Financial Data Rights, intended to implement section 1033 of the Dodd-Frank Act of 2010  “jumpstart[ing] competition” by forbidding financial institutions from hoarding consumer data and by placing control of data in the consumer’s hands. The rule would accelerate a shift toward open banking, giving consumers more control over their data and bolstering competition for banks and fintechs to up their game.

Join CDIA for an insightful webinar on June 6, 2024, at 1 pm ET, as we explore the world of open finance, examining its influence on consumer data, cash flow dynamics, and credit reporting. This event features distinguished speakers Kevin Moss, Kim Phan, and John Pitts, offering a comprehensive view from consumers, financial institutions, and consumer reporting agencies (CRAs).

Open finance is revolutionizing how consumers interact with their financial data, presenting both opportunities and challenges. During this session, we’ll explore:

• Pros and Cons: Understand the advantages and drawbacks of open finance for all stakeholders and gain insight into how these initiatives are reshaping the financial landscape.

• Impact on Credit Reporting: Learn about the evolving role of consumer data in creditworthiness assessment and its reflection in credit reports.

• Consumer Benefits: Discover how consumers can leverage open finance to their advantage, from enhanced access to financial services to greater control over their data.

Secure your spot now for this insightful discussion on the intersection of open finance, cash flow dynamics, and credit reporting. Register today!