The uncertain future of consumer data control

Marketplace Tech

American Public Media

Technology, News

4.6 • 1.2K Ratings

🗓️ 7 August 2025

⏱️ 10 minutes

🔗️ Recording | iTunes | RSS

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Summary

Section 1033 of the Dodd Frank Act was finalized at the end of the Biden administration and would require banks to give consumers free access and control of their personal banking data.

The rule had met legal pushback from the bank industry and the CFPB under the Trump administration planned to scrap it. But last week, the bureau said it will instead rewrite Section 1033.

Marketplace’s Meghan McCarty Carino discusses the news with Rohit Chopra, who served as the director of the Consumer Financial Protection Bureau when the rule was finalized in 2024.

Transcript

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0:56.7	Shopify.com.U.K. slash try. An open banking regulation is getting a reboot. From American Public
1:06.4	Media, this is Marketplace Tech. I'm Megan McCarty Carrino.
1:30.1	A consumer protection rule to promote open banking is on again. Maybe. Section 1033 of the Dodd-Frank Act was finalized at the end of the Biden administration and would require banks to give consumers free access and control of their
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