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Writing for Banker & Tradesman, Tom Curry, Jay Cabral, and Dan Hartman Analyze the CFPB’s Steps Toward Financial Innovation

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Tom Curry, a partner in Nutter’s Corporate and Transactions Department and a co-leader of the firm’s Banking and Financial Services groupJay Cabral, a partner in Nutter’s Corporate and Transactions Department, and Dan Hartman, an associate in Nutter’s Litigation Department, wrote an article for Banker & Tradesman titled “Major Regulatory Relief at CFPB Shows Ambitious Embrace of Financial Innovation,” which outlined how the Consumer Financial Protection Bureau (CFPB) is taking aggressive steps to promote financial innovation in the consumer financial services space. In September, the CFPB introduced three new policies: a No-Action Letter Policy, a Trial Disclosure Program Policy, and a Compliance Assistance Sandbox Policy. The authors noted large financial services companies and fintechs will not gain “complete comfort” until other federal agencies and the state regulators from larger states with strong consumer protection regimes sign on; however, these three policies are a step forward.

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