The CFPB published for comment in today’s Federal Register a proposed policy on issuing “no-action” letters for innovative financial products or services.  Like those issued by the SEC and CFTC, the no-action letters would communicate that, subject to specific facts and circumstances, CFPB staff has no present intention to recommend initiation of an enforcement or

Writing a CheckThe CFPB published a Notice and Request for Comment in the Federal Register on June 29, 2011, identifying six markets for consumer financial products and services being considered as markets in which “larger participants” will be subject to CFPB supervision. The six markets are:

  • debt collection
  • consumer reporting
  • consumer credit and related activities
  • money transmitting,