The Consumer Financial Protection Bureau is replacing its Office of Innovation with a new unit to support a broader initiative.
The new"Office of Innovation and Competition" will replace the previous Office of Innovation, which focused on analyzing areas needing special regulatory treatment for individual companies. That office was tasked with processing applications for No-Action letters and the terms of regulatory sandboxes.
Instead, the new office will"analyze obstacles to open markets, better understand how big players are squeezing out smaller players, host incubation events, and, in general, make it easier for people to switch financial providers," according to an announcement from the regulator. Instead of focusing on allowances for individual innovators, the new office seeks to broadly promote innovation.
"This will help level the playing field and foster competition by ensuring any actions the CFPB takes will apply to all companies in the market," said the announcement.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Looking For A New Revenue Stream? Take This ShortcutFind new markets for your existing products or services in an hour or less.
Les mer »
2024 Mercedes C-Class EV spearheads brand's electric rebirth | AutocarA Mercedes C-Class EV will spearhead the brand's electric rebirth when it arrives in 2024. It promises excellent range, reduced weight and more space
Les mer »
Here’s how abortion clinics are preparing for the fall of Roe v. WadeReproductive rights advocates are planning to open new abortion clinics or expand the capacity of existing ones in states without restrictive abortion laws....
Les mer »
The Surveillance State Is Primed for Criminalized AbortionA new report lays out existing US policing capabilities that can easily be repurposed to monitor pregnant people.
Les mer »
These Are the Colorado Counties Where COVID Is Getting Bad AgainIf you live in metro Denver, new COVID mask rules could affect you.
Les mer »
Texas AG Ken Paxton asks court to immediately halt implementation of President Biden’s new border ruleTexas Attorney General Ken Paxton announced that he has filed a motion for a preliminary injunction Monday to stop the implementation of the Department of Homeland Security’s new rule he says is unlawfully altering asylum and parole procedures at the border.
Les mer »