A trade group representing financial technology companies won its bid to defend a Biden-era open banking rule that the Consumer Financial Protection Bureau and some big banks are looking to eliminate.
The Financial Technology Association sufficiently proved that it would be unable to advocate for the interests of its members, such as data aggregator Plaid and PayPal Holdings Inc., without stepping in to defend the rule, Judge Danny C. Reeves of the US District Court for the Eastern District of Kentucky said in a Wednesday ruling.
The CFPB is preparing to ask Reeves to vacate the open banking ...
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