The U.S. Chamber of Commerce Center for Capital Markets Competitiveness (“CCMC”) appreciates the opportunity to submit comments to the Consumer Financial Protection Bureau (“CFPB”) regarding its Outline of Proposals and Alternatives Under Consideration for the Small Business Advisory Review Panel for Required Rulemaking on Personal Financial Data Rights[1] (the “Outline”).
CCMC welcomes this important and necessary rulemaking under Section 1033 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the “Dodd-Frank Act”). We strongly support maintaining secure consumer access to financial information. We agree that “by accessing their financial data, consumers are better able to manage their financial lives” and that ensuring secure consumer access to financial data can foster further competition, leading to new or improved products and services for consumers.