This is a news story, published by Electronic Frontier Foundation, that relates primarily to The Consumer Finance Protection Bureau news.
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68% Informative
The Consumer Finance Protection Bureau has finalized a rule that makes it easy and safe for you to figure out which bank will give you the best deal and switch to that bank, with just a couple of clicks.
Under this rule, you can authorize a third party - another bank, a comparison shopping site, a broker, or just your bookkeeping software - to request your account data from your bank.
This data can include your transaction history and all the data needed to set up your payees and recurring transactions somewhere else.
The CFPB has had the authority to make a rule like this since its founding in 2010 .
The rule also regulates the third parties that can get your data.
It limits how they can use your data (strictly for the purposes you authorize) and what else they are allowed to do with it.
VR Score
65
Informative language
60
Neutral language
23
Article tone
informal
Language
English
Language complexity
40
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
medium-lived
External references
3
Source diversity
3
Affiliate links
no affiliate links