Encouraging Innovation and Protecting Consumers Act

This bill restores the Office of Innovation within the Consumer Financial Protection Bureau (CFPB) and revives three specific regulatory tools established in 2019. It terminates the Bureau's separate "Office of Competition and Innovation" and requires the restored Office to reinstate the Compliance Assistance Sandbox (allowing companies to test new products with limited oversight), the No Action Letter Policy (providing clarity on regulatory compliance), and the Trial Disclosure Policy (testing new consumer disclosure methods). These provisions directly affect financial service companies seeking to innovate in consumer financial products while operating under CFPB guidance. The bill mandates these policies be fully operational within 180 days of enactment, aiming to streamline regulatory engagement without altering the Bureau's core mission.