United States:
CFPB Clarifies Proposal To Encourage Tailored Disclosure Programs
15 February 2019
Cadwalader, Wickersham & Taft LLP
To print this article, all you need is to be registered or login on Mondaq.com.
The Consumer Financial Protection Bureau ("CFPB") clarified its proposal to create a
"Disclosure Sandbox." The proposal is intended to
encourage companies to create tailored consumer disclosures that
may be more effective than those required by law. The CFPB
clarified that the proposed Disclosure Sandbox would be open to
"any covered entity" and not only to "fintech
companies."
As
previously covered, the CFPB proposed amendments to the 2012
"Encourage Trial Disclosure Programs" policy. The comment
period for the proposal has passed.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
POPULAR ARTICLES ON: Finance and Banking from United States
Kirschner: The Final Act?
Mayer Brown
On August 24, 2023, the US Court of Appeals for the Second Circuit issued its decision in the Kirschner v. JPMorgan litigation saga, rejecting the plaintiff's...
Private Credit And Traditional Banks Forge A New Path
Dechert
As direct lending becomes a more popular financing option for middle-market and large U.S. companies, banks are increasingly seeking new ways to leverage their existing customer networks to participate in the direct lending market.