Consumer Financial Protection Bureau rule empowers bank customers
The Consumer Financial Protection Bureau has finalized a banking rule that will simplify the bank-switching process.
The Personal Financial Data Rights rule will make financial histories portable, meaning if Americans request that their financial information be transferred to a new institution, banks are obligated to comply, according to a report from Money. The bureau hopes its rule can improve consumer choice, financial options and customer service as well as help Americans save money.
The rule is expected to take effect in 2026 for larger banks and 2030 for smaller banks.
Read more: Money
The article presented here is intended to inform you about the broader media perspective on dentistry, regardless of its alignment with the ADA's stance. It is important to note that publication of an article does not imply the ADA's endorsement, agreement, or promotion of its content.