Navigating the New CFPB Open Banking Rule: A Deep Dive

The Consumer Financial Protection Bureau (CFPB) has issued a groundbreaking final rule implementing Section 1033 of the Dodd-Frank Act, significantly expanding consumer access to their financial data. This new Open Banking Rule will have far-reaching implications for financial institutions, fintech companies, and consumers alike. Join us for a comprehensive webinar to explore the key aspects of this landmark regulation:

1. Understanding the Scope: Learn about the entities and data covered by the rule

• Requirements of the Rule: Obligations imposed on parties covered by the rule

• Compliance Deadlines: Get insights into the phased-in compliance timeline for different Institutions

2. Technical Challenges: Discuss the complexities of implementing new interfaces and data security measures

3. Legal and Regulatory Risks: Identify potential pitfalls and best practices to mitigate risks, including a lawsuit challenging the legality of the rule

4. Opportunities and Innovations: Explore how the rule can foster innovation and enhanced consumer experiences

5. Impact of presidential election and presumed appointment of new Acting Director of CFPB

Who Should Attend?

• Financial Institutions: Banks, credit unions, and other financial institutions

• Fintech Companies: Data aggregators, payment processors, and other fintech firms

• Legal and Compliance Professionals: Attorneys, compliance officers, and risk managers

We will be joined by the following guest speakers:

• Alex Johnson, Founder, Fintech Takes
• Paige Paridon,Senior Vice President, Senior Associate General Counsel & Co-Head of Regulatory Affairs Bank Policy Institute

This program is anticipated to be approved for 1.0 CLE credits in CA, NV, NY, & PA; and 1.2 NJ. MN CLE Credit is pending. Uniform Certificates of Attendance will also be provided for the purpose of seeking credit in other jurisdictions.

Login details can be found in the calendar hold and will be resent the day before the webinar. For more information, contact questions@ballardspahr.com.