The Consumer Financial Protection Bureau (CFPB) has finalized a rule that lays the groundwork for open banking in the U.S. financial system, including the mortgage sector. But this rule has sparked mixed reactions within the industry, reflecting both enthusiasm and concerns.

Announced on Tuesday, the new rule mandates that financial providers — including banks, credit card issuers and mortgage companies — share personal financial data for free with their peers when customers request it. The goal is to empower consumers to switch providers more easily by enabling them to transfer data on bank accounts, credit cards, mobile details ⇒

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