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CFPB’s New Innovation Proposals Could Get Stuck In Litigation (1)

Sept. 10, 2019, 8:18 PM

The Consumer Financial Protection Bureau rolled out new policies intended to give fintech companies and banks room to develop new products, but the threat of litigation from state attorneys general or other parties could keep companies from taking advantage.

The CFPB on Sept. 10 unveiled its policies for providing companies with no-action letters, a “compliance assistance sandbox” and a trial disclosure program that is intended to allow companies the space to test out new products with a sort of bureau seal of approval.

The CFPB’s three new regulations are a part of a broader effort by Trump administration financial regulators ...