| The financial sector is one of the most heavily regulated sectors in the US economy. This has caused it to be virtually impossible for a firm to introduce a new financial service or product without spending large sums of money to ensure it complies with existing laws and regulations. The Consumer Financial Protection Bureau is making an effort to address this by creating a regulatory "sandbox." A sandbox, essentially a safe policy space to innovate, could help promote entrepreneurialism within a sector burdened by exceedingly restrictive regulation. |
