CFPB Reconsiders Section 1033 Rule Signaling Potential Overhaul of Personal Financial Data Rights Framework

The Consumer Financial Protection Bureau’s position on Section 1033 continues to evolve under the Trump administration. Following a request to vacate the 2024 Personal Financial Data Rights rule (PFDR), on July 29, 2025, the CFPB changed its position, announcing it would initiate a new rulemaking to reconsider the PFDR. On August 22, the CFPB published an advance notice of proposed rulemaking (ANPR) seeking public comment on four key areas of the PFDR. The ANPR represents a potential shift away from the PFDR finalized in October 2024 under the Biden administration, reopening for comment foundational questions regarding the rulemaking to implement Section 1033.

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