US consumer bureau to issue 'interim final' open banking rule, cites funding shortfall

Core Viewpoint - The U.S. consumer financial protection agency plans to issue interim regulations for "open banking" and consumer data rights due to anticipated funding shortages before completing the ongoing rewrite of Biden-era regulations [1] Group 1 - The agency is the top watchdog for consumer financial protection in the U.S. [1] - The decision to issue interim regulations is driven by the expectation of running out of money [1] - The current process involves rewriting regulations established during the Biden administration [1]