this post was submitted on 26 Oct 2023
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US Consumer Finance Protection Bureau's new Personal Financial Data Rights rule (pluralistic.net)
submitted 10 months ago by Anonymouse@lemmy.world to c/privacy@lemmy.world
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This is a long article about the US CFPB creating a new rule that may help protect your financial data. The interesting stuff is near the end where it sounds like they're putting your financial data back in your hands:

The Bureau will force banks to "share data at the person’s direction with other companies offering better products."

the businesses you connect to your account data will be "prohibited from misusing or wrongfully monetizing the sensitive personal financial data."

I'm not very knowledgeable in this area so I'm wondering what your read is on it.

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