CFPB authorises FDX

CFPB signs off on standard-setting body’s application for open-banking rule
Financial Data Exchange will set standards under the agency’s Personal Financial Data Rights rule, allowing consumers to access and transfer their personal financial data.
CFPB says green light for FDX to issue open banking standards
The U.S. Consumer Financial Protection Bureau said Wednesday it approved an application from Financial Data Exchange ("FDX") to deliver standards for open banking, marking the first order of recognition to be issued under the consumer watchdog's Personal Financial Data Rights rule.
CFPB authorises FDX as open banking standards setter in US
The move is part of the CFPB's Open Banking regulation that mandates companies to share financial data with authorised parties.
CFPB picks FDX to set open banking standards
The nonprofit will craft standards for consumer data sharing between financial institutions for the next five years.
FDX Recognized by CFPB as a Standard-Setting Body, a Step Forward for Open Banking
SALT LAKE CITY, Jan. 09, 2025 (GLOBE NEWSWIRE) -- The Financial Data Exchange (FDX) is pleased to announce its official recognition by the Consumer Financial Protection Bureau (CFPB) as an industry standard-setting body for the U.S. open banking ecosystem.
The CFPB Picks FDX for Oversight of U.S. Open Banking Standards
The CFPB recognized FDX as the standard-setting body under the bureau’s Personal Financial Data Rights rule. The final version of that rule was released in October, but has met challenges, notably a lawsuit filed by the Bank Policy Institute and the Kentucky Bankers Association.
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