The National Association of Federally-Insured Credit Unions (NAFCU) has responded to the Consumer Financial Protection Bureau’s (CFPB) proposal to revive its no-action letter policy.
The NAFCU said the CFPB's proposed policy guidance to streamline outdated or ineffective regulations in the policy could improve traditional products and services.
Read on for details from the NAFCU’s reaction to the proposal, which also introduces the Product Sandbox, which details limited exemptions or safe harbors for financial institutions.
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