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CFPB Launches Project Catalyst

The Consumer Financial Protection Bureau (CFPB) has announced the launch of Project Catalyst this week, an initiative that will obtain data on consumer behaviors and trends. The CFPB views this project as a means to fulfill its mandate under the Dodd-Frank Wall Street Reform and Consumer Protection Act to give consumers access to fair, transparent, competitive, and innovative markets.  In the first phase of this project, three companies have agreed to provide the CFPB with data about consumer choices; the data does not disclose the consumer’s identity.