19-EA-01: BCFP - Policy on No-Action Letters and the BCFP Product Sandbox

On December 13, 2018, the Bureau published proposed policy guidance to streamline and revise the agency’s NAL policy, which allows individual institutions to apply for regulatory relief in connection with a specific product or service offering. The proposal also introduces the Product Sandbox, which grants relief similar to that available through NALs, and includes two new forms or relief: approvals under statutory safe harbor provisions and exemptions from certain statutory or regulatory requirements.

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