On May 30, the Consumer Financial Protection Bureau (CFPB) filed a motion to vacate its own open banking rule, arguing that the rule exceeds its authority under Section 1033 of the Dodd-Frank Act. The CFPB asserts that the rule exceeds its legal authority by requiring data sharing with authorized third parties, unlawfully prohibits data providers from charging fees, inadequately addresses consumer data and security risks, and imposes arbitrary compliance deadlines. While the motion is in line with recent efforts to scale back rulemakings, the CFPB remains statutorily required to implement a data access rule but has not yet indicated how it will proceed.