Last week, the CFPB finalized its proposed revisions to its trial disclosures and no-action letter policies and also finalized its proposal to create a new FinTech sandbox policy.  It also announced the creation of the American Financial Innovation Network (ACFIN), a network of federal and state regulators to facilitate innovation, and issued its first no-action letter under the final revised policy.

We are delighted that Paul Watkins, Director of the CFPB’s Office of Innovation, has agreed to participate as our special guest in a webinar with Ballard Spahr attorneys that will explore the potential benefits of these innovation policies.  The webinar, “The CFPB’s Final Innovation Policies: What You Need to Know,” will be held on October 1, 2019 from 12:00 to 1:00 p.m. ET.  Click here to register.

Our discussion will include:

  • An overview of the three final policies
  • Key differences between the final policies and prior policies
  • The CFPB’s evaluation of applications under the final policies
  • Benefits for approved applicants under the policies
  • Confidentiality concerns
  • The impact of state law and state sandboxes, including the role of the ACFIN
  • The first no-action letter