A new Consumer Financial Protection Bureau (CFPB) rule (Rule) will require depository institutions and certain other companies to make several pieces of a consumer’s personal financial data available for free to the consumer and third parties that act with authorization from the consumer. The final Rule, issued in October, remains controversial within the industry, and the CFPB has already been sued by banking trade groups in an effort to block its enforcement. This article discusses the key requirements of the Rule, with insights from Gregory Szewczyk, a partner at Ballard Spahr, on the implications and compliance challenges for covered entities. See “Financial Services 2024 Privacy, Cybersecurity and AI Regulation Overview” (Feb. 14, 2024).