Consumer Financial Protection Bureau headquarters in Washington, D.C. (Photo: Diego M. Radzinschi/ALM)
The Consumer Financial Protection Bureau (CFPB) has finalized a new rule giving consumers greater rights, privacy and security over their personal financial data.
The Personal Financial Data Rights Rule requires financial institutions, credit card issuers and other financial providers unlock an individual's personal financial data and transfer it to another provider at the consumer's request for free, according to the CFPB, making it easier for consumers to switch providers for superior rates and services.
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Joe Toppe
Joe Toppe serves as managing editor of PropertyCasualty360.com. Joe is also a father of three, an author, and longtime lover of baseball.
