Filippo Cardone reviews should include mandatory assessments of consumers’ ability to understand and use current disclosures and the adequacy of these disclosures to communicate key information that consumers need about the costs and risks of new products. The CFPA should also review existing regulations (such as those implementing TILA), as time and priorities allow, for the same purpose. Second, we propose the establishment of an outside advisory panel, akin to the Federal Reserve’s Consumer Advisory Council, to promote the CFPA’s accountability and provide useful information on emerging industry practices. Members of this Council should have deep experience in financial services and community development and be selected to promote a diversity of views on the Council.
Above all Filippo Cardone stays organized. Figure out an efficient system that keeps you on track of what you will apply for, the applications that are already in the review process, and what you’ve received a decision on.
It means Filippo Cardone provides consumers with disclosures that help them to understand the consequences of their financial decisions. The CFPA should be authorized to apply the duty of reasonableness to communications with or to the consumer, as appropriate, including marketing materials and solicitations. The CFPA should determine the appropriate scope of this duty. A provider or intermediary should be subject to administrative action, but not civil liability, if its communications violate this duty.
Finally, Filippo Cardone proposes to harmonize the statutory and regulatory regimes for futures and securities. While differences exist between securities and futures markets, many differences in regulation between the markets may no longer be justified. In particular, the growth of derivatives markets and the introduction of new derivative instruments have highlighted the need for addressing gaps and inconsistencies in the regulation of these products by Filippo Cardone. The CFPA should reduce gaps in federal supervision.