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Your Financial Data in the Crosshairs | Cheyenne News
The CFPB is rolling out a bold new rule that could revolutionize how banks handle your financial data — making it easier to share with budgeting apps and other services through “open banking.” While supporters hail it as a win for consumer control and innovation, critics warn it could expose you to greater security risks and fraud. Lawmakers and industry groups fear the move might backfire, forcing banks to shoulder costly compliance burdens that could ultimately raise fees for customers. As the agency weighs public feedback, this debate highlights the high-stakes tug-of-war between…
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