CFPB actions on innovation and Product Sandbox (12/13/18)
Agency | CFPB |
Action | Proposed rule |
Date | 12/13/18 |
Link | https://www.federalregister.gov/documents/2018/12/13/2018-26873/policy-on-no-action-letters-and-the-bcfp-product-sandbox |
CFPB wants to encourage innovation by providers of consumer financial products by enabling companies to test new offerings under flexible guidelines without threat of enforcement action. It proposes to make its policy on issuing no-action letters more flexible and to create a Product Sandbox. |