The Consumer Financial Protection Bureau granted a no-action letter to Bank of America for certain small-dollar credit products for BofA customers.
CFPB grants no-action letter for BofA small-dollar products
November 06, 2020 / By ICBA
The Consumer Financial Protection Bureau granted a no-action letter to Bank of America for certain small-dollar credit products for BofA customers.
The Consumer Financial Protection Bureau granted a no-action letter to Bank of America for certain small-dollar credit products for BofA customers. NALs provide increased regulatory certainty that the bureau will not bring a supervisory or enforcement action against a company for providing a product or service under certain circumstances.
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