The CFPB posed a policy that would allow companies to test new consumer disclosures on a case-by-case basis in exchange for sharing the results of the tests with the bureau.
Under the proposed policy, the CFPB would approve limited-time exemptions from federal disclosure laws to enable companies to conduct the trials. The bureau would use the resulting information to improve its disclosure rules and model forms.
The proposal is part of the CFPB's Project Catalyst initiative, which is designed to encourage consumer-friendly innovation in financial products and services.
Read the proposed policy.