Overview
- Public comment closed on October 22 as the CFPB reconsiders Rule 1033 and signals it is exploring fees to defray data-access costs and reassessing security tradeoffs.
- A coalition of crypto, fintech and retail groups, including the Blockchain Association and Crypto Council for Innovation, urged preserving a ban on data-access fees and warned charges could cut links to digital wallets and stablecoins.
- Consumer Reports pressed the CFPB to keep no-cost access and strengthen privacy and security, arguing consumers should not pay to obtain or share their own financial information.
- Americans for Tax Reform urged the bureau to reject price controls and allow market-negotiated fees, citing heavy bank technology and cybersecurity spending and calling for clearer liability rules for third parties.
- Sen. Cynthia Lummis asked Acting Director Russ Vought to finalize the rule quickly to prevent banks from restricting access to digital asset platforms, with litigation from banking groups still paused since July during the agency’s review.