The Consumer Financial Protection Bureau’s (CFPB) Office of Innovation proposal to create a Disclosure Sandbox, which would allow companies to experiment with new disclosure forms and procedures, drew the ire of consumer advocacy groups following a recent update to clarify its associated application requirements.
The proposed revisions have met with mixed reactions from various organizations since its announcement in September 2018. The existing policy was established in 2013 and has never been used to approve a trial disclosure.
Find out what views have been expressed regarding the proposal, whose comment period ended Feb. 11.