A little-known rule being considered by the Consumer Financial Protection Bureau will have significant implications for houses of worship, religious organizations, secular nonprofits, and, frankly, all Americans.
In the ears of most conservatives, the CFPB is less a four-letter acronym than a four-letter swear word. The brainchild of Sen. Elizabeth Warren (D-MA), the agency is synonymous with regulatory overreach. It’s no wonder then that when President Donald Trump took office again in January, one of his team’s first moves was to vacate rules and regulations put in place by the CFPB during the previous administration.
One of those was Rule 1033, known as the “open banking rule.” Put simply, the Dodd-Frank Act required the CFPB to create a rule granting consumers control over their own data.
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