Open banking, as defined by the Consumer Financial Protection Bureau (CFPB) under its final rule implementing Section 1033 of the Dodd-Frank Act, refers to a system where consumers have the right to access and share their personal financial data with third-party providers securely and without charge. This framework mandates that financial institutions, including banks, credit card issuers, and digital wallet providers, make specified consumer financial data available upon request. The objective is to enhance consumer control over personal financial information, promote competition, and foster innovation in the financial services industry.