Banks, CFPB Win Delay on Open Banking Case as Trump Reviews Rule

The Consumer Financial Protection Bureau and banking trade groups agreed to pause litigation over a Biden-era open banking rule while the agency decides whether to revoke it.

The Bank Policy Institute and other plaintiffs reached a deal with the CFPB to pause the case for 30 days and to give banks an additional 30 days to comply with the rule.

Judge Danny C. Reeves of the US District Court for the Eastern District of Kentucky signed off on the agreement Tuesday.

The open banking plan, finalized in October, requires banks to allow customers to easily share their deposit and ...