8

December

2025

CFPB signals in court filing that an interim final Rule 1033 covering retail bank API account access is imminent

On December 8 in a filing in the Bank Policy Institute lawsuit challenging Rule 1033, the Consumer Financial Protection Bureau (CFPB) informed the court it is preparing an interim final rule to replace the controversial 2024 framework. The CFPB indicated the interim rule will advance its accelerated reconsideration of previously proposed personal financial data rights rules. Earlier in the case, a judge with the Federal District Court for the District of Kentucky stayed the 2024 Rule’s compliance deadlines and issued an injunction preventing the CFPB from enforcing the Rule during the reconsideration process. The CFPB has said it will move quickly once it completes the record for the new rulemaking.

Rule 1033, originally authorized by Section 1033 of the Dodd-Frank Act, establishes consumer rights to access and share the account and payment information that banks and card issuers hold. The 2024 Rule required covered institutions to provide this information without charge to consumers or to any third parties that consumers designate. The CFPB reopened the rule to stakeholder feedback on August 22, 2025 and issued an advance notice of proposed rulemaking to request views on scope, data sharing architecture, and implementation timelines. The CFPB had sought new comments to build a fresh administrative record and to address the legal and technical issues that the Bank Policy Institute lawsuit and other industry participants raised about the Rule. The comment period closed on October 21.

The CFPB is pursuing this work while operating with reduced staff following layoffs and senior personnel departures, which has raised concerns about its capacity to manage complex technical regulations like this one. Consumer advocacy groups and fintech stakeholders argue that revising Rule 1033 can strengthen data portability and support more competitive financial services. Banking groups argue the 2024 Rule oversteps the CFPB’s statutory authority and would require banks to build costly data sharing systems without adequate safeguards or compensation. The CFPB intends to promulgate the interim final rule sometime in 2026.

Last updated 12/08/2025.


United States (Regulatory)

History:

  • Dec 8, 2025: The CFPB informs the court in the Bank Policy Institute’s lawsuit that it is preparing an interim final rule to replace the controversial 2024 framework. Forcht Bank, NA v. CFPB, Doc. 92 (CFPB Status Report).
  • Oct 21, 2025: The public comment period for the CFPB’s August 22 ANPR closes.
  • Aug 22, 2025: The CFPB issues an advance notice of proposed rulemaking to reopen and revise Rule 1033, soliciting comments through October 21, 2025. 90 Fed. Reg. 40986.
  • Jul 29, 2025: The CFPB announced its intent to revise Rule 1033 in its motion to stay proceedings in the Bank Policy Institute’s lawsuit challenging the Rule. Forcht Bank, NA v. CFPB, Doc. 80 (CFPB Motion to Stay).
  • Nov 18, 2024: The CFPB publishes the final version of Rule 1033. 89 Fed. Reg. 90838.
  • Oct 31, 2025: The CFPB publishes its Notice of Proposed Rulemaking for Rule 1033.88 FR 74796.
  • Jul 21, 2010: President Barack Obama signs the Dodd–Frank Wall Street Reform and Consumer Protection Act, directing the CFPB to write rules giving consumers on‑demand access to their account data. Pub. L. No. 111‑203, 124 Stat. 1376 (2010).
See the CFPB Status Report
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Tom Momberg

+17186645458 tom.momberg@dlxlaw.com

Tom advises clients in an array of matters related to blockchain technology, decentralized finance, banking and payments systems, financial products, and financial technology applications. He joined DLx Law as an attorney after working as in-house counsel for a payments and banking software service provider, advising on various legal and regulatory matters, operations, risk, customer due diligence, and corporate best practices.

Tom received his J.D. from George Mason University Law School in Virginia and his B.A. from the University of Wisconsin-Milwaukee. Tom is a former journalist, and, while in law school, he interned for DLx Law and served as a law clerk for several federal institutions in Washington, D.C., including the CFTC, FCC, and House Judiciary Committee. Tom is admitted to practice law in the District of Columbia and the State of Oregon.

Angela Angelovska-Wilson

+12023651448 angela@dlxlaw.com

Angela is an early distributed ledger technology adopter and a leading authority in the evolving global legal and regulatory landscape surrounding distributed ledger technology and smart contracts. Prior to co-founding DLx Law, Angela served as the Chief Legal & Compliance Officer of Digital Asset and was part of the founding team.

Prior to joining Digital Asset, Angela was a partner at Reed Smith where she regularly advised clients on the implementation of new technologies to finance and the complex regulatory schemes involved in the development, creation, marketing, sale and servicing of various financial services and products. Before Reed Smith, Angela spent most of her career in various roles at Latham & Watkins, where she was recognized by The Legal 500 US among the top finance attorneys in the U.S.

Angela has a deep understanding of the Fin-Tech industry and in particular the distributed ledger industry, having been involved in a number of startups in various roles, as an employee, entrepreneur and advisor. In addition to DLx Law, Angela is also co-founder of Sila Inc., an innovative technology company.