In the June 22, 2020 issue of the Federal Register (85 FR 37331, click here), the Bureau of Consumer Financial Protection (Bureau) announced the establishment of a pilot advisory opinion program (Pilot AO Program). Under the Pilot AO Program, requestors will be able to request interpretive guidance, in the form of an advisory opinion (AO), to resolve regulatory uncertainty, which encompasses not only uncertainty with respect to regulatory provisions but also, where applicable, uncertainty as to statutory provisions.
Full Memorandum
