The CFPB is ramping up its efforts to ensure bank customers can freely give their account data to online lenders, financial planners, and other new types of outside services.
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CFPB Advances Plans Giving Bank Customers Data-Sharing Rights
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“Impeding access to digital financial records not only blocks innovation from new entrants, it also reduces the incentives for financial institutions to innovate,” agency Director Richard Cordray was quoted as saying in prepared remarks distributed in advance of scheduled delivery Thursday in Salt Lake City, Utah.
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