{"data":{"id":"us/12-cfr-appendix-a-to-part-1033","jurisdiction":"us","citation":"12 CFR Appendix A to Part 1033","heading":"Appendix A to Part 1033—Personal Financial Data Rights Rule: How to Apply for Recognition as a Standard Setter","body":"If you want the CFPB to designate your organization as a recognized standard setter, you should follow the steps described below.\nWe may amend this process from time to time.\nStep One: Requesting Recognition\nSubmit a written request for recognition. 1\nThis should include key contact information, evidence of your organization's policies and practices, 2 and an explanation of how your organization satisfies each of the requirements in the Personal Financial Data Rights rule to be a recognized standard setter. 3 Your request should also describe how current and/or anticipated standards issued by your organization relate to open banking.\nIn advance of filing your request, you can seek a pre-filing meeting with us. We can walk you through the application process and help you make a complete submission.\nSend formal submissions, as well as requests for pre-filing meetings, to: openbankingstandards@cfpb.gov.\nStep Two: Additional Information and Public Comment\nAfter reviewing your submission, we may request additional information to ensure that your application is complete.\nWe may publish your application.\nWe may also seek public input on your application and invite your responses to any information we receive on that basis.\nStep Three: Our Review\nWhen reviewing your application, we consider whether your policies and practices meet all the requirements for recognition. We also evaluate whether your application is accurate and complete.\nWe prioritize and review applications based on the extent to which recognizing your organization helps us to implement open banking. 4\nStep Four: Application Decision\nCFPB recognition will be publicly disclosed on our website, along with the applicable terms and conditions of such recognition, such as its duration.\nIf the CFPB declines to recognize your organization, we will notify you.\nYou may withdraw your application at any time or for any reason.\nIf we determine that your organization is close to meeting, but does not yet meet, the requirements for CFPB recognition, we may ask you to provide a written plan specifying how and when you will take the steps required for full recognition. If that plan is satisfactory, we may state on our website that your organization has received contingent recognition. Once you provide us with evidence that you have successfully executed on that plan (or otherwise addressed the relevant contingences), the CFPB may extend full recognition.\nStep Five: Recognition\nThere are several points to keep in mind about recognition.\nAs a recognized standard setter, you agree that the CFPB may monitor your organization and that you will provide information that we request.\nYou must also provide us, within 10 days, written explanation of any material change to information that was submitted with your application or during recognition, as well as any reason your organization may no longer meet underlying requirements for recognition.\nIn addition, you must meet any other specified terms and conditions of your recognition, which may include our reserving the right to observe or participate in standard setting.\nIf your recognition is set to expire, you can apply for re-recognition by re-starting at Step One at least 180 days before expiration. We may temporarily extend your recognition while we consider your request for re-recognition.\nWe may modify or revoke your recognition. The CFPB expects to notify you of the reasons it intends to revoke or modify recognition, and to provide your organization with an opportunity to address the CFPB's concerns.","path":["Title 12—Banks and Banking","CHAPTER X—CONSUMER FINANCIAL PROTECTION BUREAU","PART 1033—PERSONAL FINANCIAL DATA RIGHTS"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"d922bd7da706238aa4059a3771e99561068c441bcbc29b61d1091fe050415ec3","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-1033.441","next":"us/12-cfr-1041.1"},"notice":"GroundRules: Original legal text. Not legal advice."}