Is it allowed for U.S. banks to restrict joint account holders from initiating data sharing?

Last updated on October 3, 2025

No, it is not allowed. The Open Banking rule mandates equal data access rights for all account holders, including joint users. Banks must allow any verified account holder to initiate data sharing with third parties, regardless of account hierarchy.

 

https://privacymatters.dlapiper.com/2024/11/cfpb-finalizes-open-banking-rule-under-section-1033-key-takeaways-for-accessing-consumer-financial-data/

11/1/2024

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