Your bank data are being stolen because regulators won’t let banks protect it

Owing largely to heavy-handed federal rules, identity thieves have had a field day targeting banking consumers.

The Consumer Financial Protection Bureau’s very-much-in-flux Section 1033 “open banking” rule was promoted by the Biden administration as a modernization of the financial system, but in reality, made everyone’s data less secure.

The rule compelled banks to give third-party […] ...