CFPB Releases Report on Financial Innovation

The Consumer Financial Protection Bureau (CFPB) has released a report on financial innovation; the report entitled “Project Catalyst Report: Promoting Consumer Friendly Innovation” is an effort from the CFPB to expand its knowledge and inform consumers on the benefits of financial innovation. One specific approaches reflected upon is the CFPB’s “Trial Disclosure Waiver Policy” to test and revise disclosure statements in a controlled environment, and no-action letters.  Source