In a letter to the Consumer Financial Protection Bureau today, ABA and three other trade groups offered their support for the bureau’s proposed changes to its 2016 no-action letter policy and its proposal to establish a “sandbox” where banks and nonbank fintech firms can test new products, services and delivery mechanisms.
Browsing: Regulatory sandbox
Financial innovation is happening worldwide. Here are some of the top developments to watch.
Five years after the Consumer Financial Protection Bureau finalized a policy for trial consumer disclosures that saw exactly zero such disclosures authorized, the bureau is retooling its policy to encourage more companies to develop trial disclosures.