Sec. 501. Data standards and open data publication requirements for the Bureau of Consumer Financial Protection
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The Consumer Financial Protection Act of 2010 ( 12 U.S.C. 5481 et seq. ) is amended by inserting after section 1018 the following: The Bureau shall, by rule, adopt data standards for all information that is regularly filed with or submitted to the Bureau. The data standards required by subsection
(a)shall, to the extent practicable— render data fully searchable and machine-readable (as defined under section 3502 of title 44, United States Code); enable high quality data through schemas, with accompanying metadata (as defined under section 3502 of title 44, United States Code) documented in machine-readable taxonomy or ontology models, which clearly define the data’s semantic meaning as defined by the underlying regulatory information collection requirements; assure that a data element or data asset that exists to satisfy an underlying regulatory information collection requirement be consistently identified as such in associated machine-readable metadata; be nonproprietary or made available under an open license (as defined under section 3502 of title 44, United States Code); incorporate standards developed and maintained by voluntary consensus standards bodies; and use, be consistent with, and implement applicable accounting and reporting principles. In adopting data standards by rule under this section, the Bureau shall incorporate all applicable data standards promulgated by the Secretary of the Treasury. All public information published by the Bureau shall be made available as an open Government data asset (as defined under section 3502 of title 44, United States Code), freely available for download in bulk and rendered in a human-readable format and accessible via application programming interface where appropriate. . The table of contents under section 1(b) of the Dodd-Frank Wall Street Reform and Consumer Protection Act is amended by inserting after the item relating to section 1018 the following: Sec. 1019. Data standards. Sec. 1020. Open data publication. .
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Sec. 501
Data standards and open data publication requirements for the Bureau of Consumer Financial Protection
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