CFPB Can’t Love Customers, While Harming Banks Protecting Customers
The post CFPB Can’t Love Customers, While Harming Banks Protecting Customers appeared on BitcoinEthereumNews.com. WASHINGTON, DC – FEBRUARY 10: The exterior of the Consumer Financial Protection Bureau (CFPB) Headquarters is seen on February 10, 2025 in Washington, DC. According to media reports employees of the CFPB were notified that the headquarters would be closed and that employees were to work from home. (Photo by Anna Moneymaker/Getty Images) Getty Images The Trump administration is on the verge of making a big mistake. See speculation that its Consumer Financial Protection Bureau (CFPB) intends to merely amend Rule 1033, and in a way that still limits the ability of U.S. banks to charge a market rate for customer data they’ve compiled at great expense. For now, Rule 1033 requires financial institutions to provide consumer data to authorized third parties and fintechs for free. While the Trump administration apparently plans to yet again amend the errant rule, price controls that