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Financial trade groups to CFPB: ‘Keep It Simple, Streamline!’
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Banking, Consumer Protection
Friday, July 18, 2014
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After receiving more time to comment on the Consumer Financial Protection Bureau’s proposed changes to Regulation P, the nation’s top banking and financial services industry trade groups have penned a 13-page letter stating the bureau’s new annual privacy disclosure notice proposal “does little to minimize the overall, unnecessary regulatory burden currently in place.” What do the groups suggest the bureau do instead? Read on for a summary of their concerns and suggestions.
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