<ul><li>The Consumer Financial Protection Bureau (CFPB) has recognized Financial Data Exchange (FDX) as a standard-setting body.</li><li>Under the Personal Financial Data Rights rule, financial institutions must transfer an individual's personal financial data to another provider as requested.</li><li>FDX is a standard-setting organization with over 200 member organizations, including depository and non-depository commercial entities.</li><li>On the same day, CFPB sued Experian, alleging violations of the Fair Credit Reporting Act and the Consumer Financial Protection Act.</li></ul>

CFPB Permits Financial Data Exchange to Set Open Banking Standards

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