Consumer Financial Data in 2024 : Ownership, Protection and New Regulations

On March 21st, Matt Luzadder spoke at the UMACHA Fintech Symposium discussing consumer financial data in 2024.

Below is the full presentation description.

Consumer Financial Data in 2024: Ownership, Protection and New Regulations. 2024 promises more developments in U.S. consumer financial data rights and protections at both federal and state levels. This session will look at the CFPB’s proposed rule on personal financial data rights under Dodd-Frank Act Section 1033, which is expected to be finalized in the fall of 2024, and how your organization may be impacted. We’ll also examine the FTC’s Safeguards Rule, the recent update to the data breach notification requirements and the possibility of a comprehensive federal privacy law. Couple these national developments with the recent enactment of state privacy laws and managing consumer financial privacy programs becomes more complex. We will delve into the interaction between state privacy laws and entity-level versus data-level exemptions for financial institutions. How should financial institutions, fintech’s and their customers navigate this rapidly changing landscape? Attendees will put their data rights knowledge to the test through interactive questions and gain an understanding of data rights and security requirements.