Legal Labyrinth of Open Banking Lessons and Path Forward

April 22, 2025

Read Time: 1 min

As data providers and recipients focus on the technical aspects of open banking APIs, legal issues need to be considered almost every step of the way.

Member Adam Maarec (Washington, DC) will co-present a session on the “Legal Labyrinth of Open Banking Lessons and Path Forward” at the Financial Data Exchange (FDX) Spring 2025 Global Summit in National Harbor, Maryland.

From navigating ambiguities in the final 1033 rules around consumer disclosures and consent, back-end data management processes, and required API processes to bilateral data sharing agreements, Adam and his co-panelist will share best practices and lessons learned when it comes to the legal side of Open Banking.

Learn more.

Insights

Presentation

AI in Fraud Detection and Credit Underwriting: Legal Risks and Compliance Strategies

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Member Adam Maarec (Washington, DC) will join a panel presentation at the Credit Card Bank Compliance Association (CCBCA) Spring 2025 Conference, "AI in Fraud Detection and Credit Underwriting: Legal Risks and Compliance Strategies," on March 5, 2025.

Published Article

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A rapid transformation in consumer finance is being brought about by open banking—a pivotal innovation that allows consumers to give third parties real-time access to their detailed financial data.

Alert

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While the impact of the new administration’s efforts can’t be fully appreciated at this time, many are asking: what will happen to the CFPB’s final 1033 rules?

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Member Adam Maarec joined Jill Malandrino on Nasdaq TradeTalks to discuss the ethical and responsible use of AI and data governance and why operationalization and trust are imperative for adoption.

Presentation

McGlinchey Attorneys to Participate in 2025 ABA Consumer Financial Services Committee Meeting

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Attorneys from McGlinchey's Financial Services Compliance and Financial Services Litigation Practice Groups will participate in the ABA Business Law Section Consumer Financial Services Committee Meeting 2025 in Denver, Colorado, January 24 through January 25, 2025.

Alert

CFPB’s Designation of Large Digital Wallets Subject to Supervision: Game Changer or Much Ado About Nothing?

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The Consumer Financial Protection Bureau (CFPB) recently finalized a rule that will subject the country’s most active digital wallets to ongoing supervision by the agency. Will the CFPB’s new supervisory authorities be a game changer, or is this action much ado about nothing?

Event

Deep Dives Presents: Open Banking Webinar

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News Release

McGlinchey Adds DC-based Payments, Credit Card, Open Banking Partner to National Compliance Team

December 4, 2024

McGlinchey Stafford is pleased to announce that Adam Maarec has joined the firm as Member in its national Financial Institutions Compliance team located in its Washington, DC office.