The Daily Money: Take back your data
Good morning! It’s Daniel de Visé with your Daily Money.
Consumers will have more control over their financial data and privacy because of a new rule the Consumer Financial Protection Bureau issued on Tuesday, Medora Lee reports.
The Personal Financial Data Rights require financial institutions, credit card issuers, and other financial providers to unlock an individual’s personal financial data and transfer it to another provider at the consumer’s request for free, the CFPB said. Implementation will be in phases, with larger institutions required to comply by April 1, 2026.
Here's why the new rule matters for consumers.
An extra Social Security check?
Some Social Security beneficiaries may have noticed something a bit unusual for next month's schedule: There is an extra SSI check payment scheduled for November.
The slight change on the Social Security Administration's calendar may not come as much of a surprise to those keeping a close eye on the administration's 2024 timetable, which lays out dates for different types of payments throughout the year. However, for those used to seeing money hit their accounts once per month, the adjustment may still cause some confusion.
Here's what to know about SSI benefits in November.
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📰 A great read 📰
Finally, here's a popular story from earlier this year that you may have missed. Read it! Share it!
If you studied humanities, life sciences or law in college, there’s a better-than-40% chance you regret the choice now.
That’s the takeaway from a report by the Federal Reserve, whose researchers perennially ask college graduates whether they would choose a different field of study if they were granted a do-over.
Here's what the graduates said.
About The Daily Money
Each weekday, The Daily Money delivers the best consumer and financial news from Paste BN, breaking down complex events, providing the TLDR version, and explaining how everything from Fed rate changes to bankruptcies impacts you.
Daniel de Visé covers personal finance for USA Today.