The Consumer Financial Protection Bureau (CFPB) has proposed a rule, known as the 1033 rule, aimed at promoting competition in financial services and accelerating the shift to open finance. This development is seen as a positive step for consumers and the industry, with Plaid, a company that provides secure open finance solutions, welcoming the proposal. The company was founded on the principle of giving consumers control over their financial data and has since developed various features to support this goal, including APIs, Plaid Portal, and partnerships with financial institutions. Plaid has also implemented robust security measures, such as ISO27001 and ISO27701 certifications, and launched a Security Portal to provide transparency into its security practices. The company is committed to further empowering consumers with better transparency and protections in the open finance ecosystem, building on initiatives like data transparency features and tools for financial institutions to view connected applications.