CFPB Finalizes Rules On Consumer Disclosure Trials

Law360, New York (October 8, 2013, 3:02 PM EDT) -- Banks and other financial institutions can participate in a so-called trial disclosure during which they won't have to comply with federal requirements while they test drive their new disclosures to consumers on products they sell, the Consumer Financial Protection Bureau said Thursday.

The CFPB's announcement indicated it finalized its trial disclosure rules that it proposed in December. Under the rules, firms can ask to be waived from federal disclosure rules while they try out potential disclosure improvements during a trial period, according to the agency. The CFPB...
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