AFSA Applauds CFPB on Implementation of Three Key Policies

The American Financial Services Association, which for more than a century has advocated for pro-consumer policies on behalf of the consumer credit industry applauds the Consumer Financial Protection Board’s implementation of three new policies that bring increased certainty to the financial marketplace for financial institutions and consumers alike.  

“The CFPB’s updated policies on No-Action Letters, its trial-disclosure program and a compliance-assistance sandbox policy will allow many of AFSA’s members to better serve their customers with products and services, and to be more responsive to policymakers,” said Celia Winslow, AFSA vice president of legal and regulatory affairs.  “Innovations aren’t limited to the tech sector, and the CFPB is acknowledging that efforts by consumer credit companies to better serve their customers should be given a level of certainty with appropriate coordination and communication with policymakers.”