Establishes a Financial Technology Sandbox within the Office of Financial Regulation to allow financial technology innovators to test new products.
The bill creates a Financial Technology Sandbox within the Office of Financial Regulation to allow financial technology innovators to test new products and services. It defines terms, requires loan originators, mortgage brokers, and mortgage lenders to develop information security programs, and mandates cybersecurity event investigations. The Office of Financial Regulation can grant waivers of certain general laws and rules for participants in the sandbox.
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- Overview
- Core Provisions
- Implementation
- Impact
- Legal Framework
- Critical Issues
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