Our sources in Washington were right. The Consumer Financial Protection Bureau (CFPB) announced with the rule and set forth an ambitious goal that’s bound to redefine the contours of the financial world. Let’s unpack this significant shift to understand its nuances and implications:
Given this intricate web of requirements and shifts, how do institutions adapt while ensuring top-notch cybersecurity? We propose Unified API Protection (UAP) to help implement this CFPB rule at financial institutions.
APIs are central to this new directive. Cequence dives deep into the realm of API Protection and offers a platform covering all phases of the API lifecycle, unifying API discovery, compliance, and real-time detection and native prevention for effective, efficient, and secure financial data sharing. As the financial sector braces itself for this new chapter, partnering with Cequence can mean the difference between treading water and charting a confident course staying ahead of these tight deadlines. Try a free API security assessment and evaluate your current API footprint. This simple assessment requires no agents, no network changes, and will uncover your public-facing APIs and vulnerabilities.
The post Navigating the New CFPB Rule on Open Banking: The Details appeared first on Cequence Security.
*** This is a Security Bloggers Network syndicated blog from Cequence Security authored by Varun Kohli. Read the original post at: https://www.cequence.ai/blog/api-security/unpacking-the-new-cfpb-rule-on-open-banking/
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