[20210909]IN11745_开放银行业务、数据共享和CFPB的1033规则制定.pdf

CRS INSIGHT Prepared for Members and Committees of Congress INSIGHTINSIGHTi i Open Banking, Data Sharing, and the CFPBs 1033 Rulemaking September 9, 2021 New technologies that use digitized consumer financial data have led to the development of new financial products and services for consumers in recent years. Open banking refers to the practice of giving financial services firms access to customer banking and other financial data to facilitate the development of new types of products and services for consumers. Innovation in financial technologycommonly referred to as fintechis a subject of great interest for the public and policymakers. While new innovations, such as data sharing, can benefit consumers through new and affordable financial products and services, increasing access to consumer data can also pose data security and privacy risks to consumers. This Insight discusses data sharing market and technological developments. Then, it discusses the status of the Consumer Financial Protection Bureau (CFPB) Section 1033 rulemaking about consumer-authorized access to financial data, which will impact financial data sharing developments in the future. Data Sharing Market and Techno