Authorization disclosure (Section 1033)
The signed disclosure through which a US consumer gives a third party express informed consent to access their data.
Under the CFPB's personal financial data rights rule, a third party seeking a consumer's covered data must obtain the consumer's express informed consent through an authorization disclosure signed electronically or in writing. The third party also agrees to limit collection, use and retention to what is reasonably necessary for the requested product, and to a maximum period after the latest authorisation unless the consumer reauthorises. The rule is under reconsideration, so its current text should be checked.
Agent Minute explains this term on 23 February 2027.
Related terms
Authorized third partyUnder the US data rights rule, a third party that has met the authorisation procedure to access a consumer's data.ConsentA freely given, specific, informed and unambiguous indication of a person's agreement to the processing of their data.Permission dashboardA place where a customer sees and withdraws the data-access permissions they have granted.Withdrawal of consentA person's right to withdraw consent at any time, as easily as they gave it.Purpose limitationCollecting personal data for specified, explicit and legitimate purposes and not reusing it in incompatible ways.