<ul><li>The fate of the Consumer Financial Protection Bureau's open banking rule remains uncertain under the Trump administration.</li><li>The rule 1033 mandates secure data-sharing practices and prohibits fees for data access, with implementation stretching from 2026 to 2030.</li><li>Banks are concerned about data security responsibilities and the prohibition on charging fees for data access, as stated in a lawsuit.</li><li>Despite regulatory uncertainties, open banking evolution continues driven by market forces, focusing on improving security and financial structures.</li></ul>

Data Security Guardrails Critical Regardless of Open Banking Rule’s Fate

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