A trade group representing financial technology companies is moving to defend the Consumer Financial Protection Bureau’s open banking rule against a lawsuit from big banks while the agency’s litigation work is on hold.
The Financial Technology Association on Wednesday is filing a motion in the US District Court for the Eastern District of Kentucky to intervene in a lawsuit the Bank Policy Institute filed in October to block the CFPB’s open banking rule.
“FTA is composed of members who would be directly and adversely affected by a judgment vacating the rule,” the FTA said in its motion to intervene, a ...
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