Plaid has submitted a comment letter on the proposed Dodd-Frank 1033 rule, which aims to establish a comprehensive financial data right for consumers, promoting competition and innovation while ensuring consumer protection and safety in the financial ecosystem. The company believes that this rule will encourage greater choice, more competition, and redundancy across services like payments, ultimately benefiting consumers by driving down costs and motivating companies to build better products. With over 75% of its traffic already on or committed to APIs, Plaid supports the transition to API-based integrations and encourages regulators to ensure a reasonable timeline for the implementation of this technology.