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Daily Dashboard | Op-ed: CFPB financial data rights rule endangers consumers' data Related reading: A view from Brussels: EDPB launches coordinated enforcement action


In an op-ed for The Hill, Consumer Bankers Association Executive Vice President and Head of Regulatory Affairs Dan Smith said the Consumer Financial Protection Bureau's implementation of Section 1033 of the Dodd-Frank Act "could have sweeping implications for the financial services marketplace and consumers alike." Smith said the provision intends to ensure consumers can access personal data held by their financial services provider, but will "expose the sensitive financial information of millions of consumers to unnecessary risks and fail to provide them with access required by Congress." 
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