New Research on Impacts of Open Banking

In October 2024, the Consumer Financial Protection Bureau released its ruling on Personal Financial Data Rights, also known as the Open Banking rule.

This marks a major step in the evolution of financial data sharing in the U.S. as open banking allows customers to share their financial data with trusted third parties, empowering consumers with more control and choice over their financial lives. As with any major development, there are concerns.

The latest paper by Marshall Lux and Olivia Zhao delves into:

• The opportunities and challenges of the Open Banking rule
• The potential benefits for consumers
• Issues faced by banks, fintechs, and consumers
• How the U.S. compares to open banking models in Europe, Australia, and Brazil

Follow the Georgetown Psaros Center on X, Instagram, LinkedIn, and YouTube to stay up to date on all of our activities.