US Senator Lummis supports open banking rules, emphasizing the importance of digital assets
2025-10-21 20:56:37
U.S. Senator Cynthia Lummis supports open banking rules, stressing the importance of digital assets. She sent a letter to the CFPB calling for the rules to remain unchanged. The rule allows consumers to own their financial data and share it securely with fintech companies, digital asset exchanges and third-party services. Lummis warned that without clear rules, large banks could restrict access to digital asset platforms and other innovative financial services, so rules help safeguard the space for innovation. Lummis also pointed out that hindering innovation will weaken U.S. fintech leadership.
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