The final 1033 rule was released on October 22, 2024. This page reflects Mastercard’s understanding of the proposed rule as released in October 2023. We are reviewing the rule in its entirety. Our goal is to advance open banking in a way that responsibly supports all players in the ecosystem. We will continue to support you as we all navigate this regulation.
Prepare for the future of open banking
The Consumer Financial Protection Bureau (CFPB) is expected to finalize its rulemaking for Dodd-Frank Act Section 1033 later this year. Section 1033 establishes consumers’ personal financial data rights, including consumer access to financial records associated with the financial products and services they use. The proposed rule, which calls for secure permissioned data-sharing across developer interfaces, affects a broad range of financial institutions, fintechs, payment facilitators and authorized third-party data recipients.
ANSWERS TO ALL YOUR CFPB QUESTIONS
Understanding and prepping for pending regulations
Orchestrating open banking in the US
Mastercard Developer Hub for FDX APIs
Find support from a trusted partner in 1033 compliance
As an industry pioneer in data responsibility and a global leader in open banking technology, Mastercard is fully committed to our customers’ success as the CFPB prepares to implement Section 1033. We’re here to support you at every stage, from understanding how CFPB rulemaking affects you to consulting on vendor selection and API development and validating your organization’s compliance readiness. Discover how our 55 years of industry-leading expertise can equip you to thrive as the future of finance unfolds.
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Certain open banking solutions are provided by Finicity, a Mastercard company.