12 CFR 1033.401
§ 1033.401 Third party authorization; general.
United States · 12 CFR — Banks and Banking · Status: effective
Cite this
- Citation
- 12 CFR 1033.401, § 1033.401 Third party authorization; general, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/49730
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Full text
To become an authorized third party, the third party must seek access to covered data from a data provider on behalf of a consumer to provide a product or service the consumer requested and:
(a) Provide the consumer with an authorization disclosure as described in § 1033.411;
(b) Provide a statement to the consumer in the authorization disclosure, as provided in § 1033.411(b)(5), certifying that the third party agrees to the obligations described in § 1033.421; and
(c) Obtain the consumer's express informed consent to access covered data on behalf of the consumer by obtaining an authorization disclosure that is signed by the consumer electronically or in writing.
Legislative history
This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.