Search Results for keywords:"policy statement"

Found 2 results

Search Results: keywords:"policy statement"

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  • 2025-00074 — Policy Statement on Class Action Complaints
    Type:Notice
    Citation:90 FR 1127
    Reading Time:about a minute or two

    The Federal Maritime Commission has issued a new policy statement allowing private parties to file class action complaints with the Commission. This policy clarifies that such complaints are permitted and may be evaluated using the Federal Rules of Civil Procedure when applicable. The policy aims to provide guidance to shippers and other third parties and can be accessed online.

    Simple Explanation

    The Federal Maritime Commission has a new rule that says people can join together in big groups, called class actions, to complain about certain things, and this rule is like a helpful guide on how they can do it using existing legal steps.

  • 2025-00378 — Policy Statement on No-Action Letters
    💰
    Type:Notice
    Citation:90 FR 1970
    Reading Time:about 21 minutes

    The Consumer Financial Protection Bureau (CFPB) has issued a policy statement on No-Action Letters (NALs) aimed at promoting innovation and competition in consumer financial services while ensuring ethical standards and transparency. This policy outlines conditions under which companies can receive a No-Action Letter, which indicates that the CFPB will not take enforcement action against them for certain practices. It also includes safeguards to prevent abuses, such as not granting letters to companies with recent legal issues and not allowing firms to misrepresent their regulatory status. The policy is designed to foster improvements in consumer financial markets without favoring particular companies or compromising market competition.

    Simple Explanation

    The CFPB made a new rule where some companies can get a special pass so they won't get in trouble for trying new things with money, as long as they promise to play fair and follow the rules. But, the rule is a bit tricky and not everyone can get this pass easily.