A rule issued by the US Consumer Financial Protection Bureau under Section 1033 of the Dodd-Frank Act that grants consumers the right to access their personal financial data held by financial institutions and to share it with authorised third parties. The rule establishes data portability standards for US open banking, requiring financial institutions to provide machine-readable data access through secure APIs.
Section 1033 will require financial institutions to support open banking data sharing, creating new identity and consent verification requirements. Identity orchestration vendors and account aggregators are directly impacted by the compliance timeline.
When CFPB Section 1033 appears in a vendor claim, control description, policy, or assessment, record the exact meaning being used and the boundary it covers. Ask what is measured, which systems and users are in scope, what evidence supports the claim, how exceptions are handled, and when the evidence was last reviewed. Similar labels can describe different implementations, so a term match alone is not proof that a requirement is met.
Do not assume that two policies, standards, or products use CFPB Section 1033 in exactly the same way. A label may describe an objective, a technical mechanism, an operating process, a measurement, or a commercial feature. Check the surrounding definition and avoid expanding a narrow statement into a broader assurance claim.
For a durable review, note the authoritative source, publication or version date, applicable system boundary, and any thresholds or exclusions. If the meaning is disputed or changes over time, preserve both the original wording and the interpretation used for the decision. That makes later reassessment possible without treating this glossary entry as a substitute for the governing source.
Category: compliance. This entry is part of the Identity Technologist Glossary, a practitioner reference for identity verification, KYC/AML, biometrics, fraud prevention, authentication, security, and compliance terminology.
Last reviewed: 2026-09-10