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Friday, April 22, 2016

CFPB’s No-Action Letter Policy

This past February, the CFPB finalized a policy on No-Action Letters. While designed to improve access to consumer financial products and services, it is subject to various conditions that will limit its utility. This article, “Little Action in CFPB’s No-Action Letter Policy,” by Jim Sivon and Katie Wechsler, Barnett, Sivon and Natter, P.C explains the Policy and suggests several ways in which it could be modified to make it a more useful tool for financial services firms and the consumers of financial services.

Read the full article.