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CFPB Outlines Options for Rule on Consumer Access to Financial Records. The CFPB has released an outline of options it is considering to implement Section 1033 of the Dodd–Frank Act. The outline describes potential alternative approaches to covered data providers, covered accounts, recipients of financial data, exemptions based on asset thresholds, and more. The proposals under consideration would allow consumers to transfer their account history to new providers and limit reselling of consumer data by third parties. Comments are due by January 25, 2023. Read the announcement, outline, and summary.
October 27, 2022
SEC Adopts Executive Compensation Clawback Rules. The SEC has finalized rules implementing a Dodd–Frank Act provision requiring the recovery of incentive-based compensation from an executive officer whose company has misstated its financial results. The rules are effective sixty days after publication in the Federal Register. Read the announcement, fact sheet, and final rule.
October 27, 2022
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