Comments to the CFPB on Consumer Access to Financial Records

The Center for Data Innovation has filed comments with the U.S. Consumer Financial Protection Bureau (the “Bureau”) on developing regulations to implement section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, which provides for consumer access to financial records. The Bureau should require regulated financial institutions to maintain open application programming interfaces (APIs) that provide access to consumer account information. In particular, the Bureau should require data holders make any data a consumer can access directly through their portal available to authorized third parties through APIs.