Roughly six months after the Consumer Financial Protection Bureau (CFPB) finalized a rule that lays the groundwork for open banking in the U.S. financial system, the bureau plans to vacate the rule.

UPDATE: This article includes commentary from a consumer advocacy group reacting to the CFPB's Friday filing. The Consumer Financial Protection Bureau signaled that its embattled consumer financial ...

This content has been selected, created and edited by the Finextra editorial team based upon its relevance and interest to our community. In a legal filing, the Consumer Financial Protection ...

After a decade of delay and litigation, the CFPB’s flawed small-dollar lending rule is poised to take effect, and its consequences will hit hardest at America’s kitchen tables. Let’s be ...

Consumer advocates and former CFPB officials worry that people aren't getting a timely response to their complaints against financial firms. The new administration wants to trim the agency's ...

Consumer watchdog groups say the CFPB quietly dropped at least 21 enforcement actions, many against repeat offenders. Agency plans to repeal the Open Banking Rule, a key consumer data protection ...

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Since February, acting CFPB Director Russell Vought has dismissed 18 lawsuits and three civil investigative demands — 21 cases out of a total of 38 pending enforcement actions. Of those 21 dismissals ...

The Consumer Financial Protection Bureau (CFPB) has decided to abandon its proposed open banking rule, prompting sharp criticism from the Financial Technology Association (FTA). The FTA ...

But new leadership appointed by President Trump now runs the CFPB. And the agency hasn’t just reversed its position on the consumer protection rule — last month, it joined forces with the ...