September 09, 2019

CFPB to hold behavioral law symposium

CFPBThe CFPB announced that it will hold a symposium on behavioral law and economics Sept. 19. This is the second in a series of symposia meant to explore consumer protections in "today's dynamic financial services marketplace."

Following the first symposium on the "abusive" prong of the unfair, deceptive or abusive acts or practices (UDAAP) provision - which can be viewed online - NAFCU Director of Regulatory Affairs Ann Kossachev provided a detailed recap in a post on the association's member-only Compliance Network.

CFPB Director Kathy Kraninger and Deputy Director Brian Johnson will both make remarks during the event. The symposium will also feature two panels: one focused on the methodological foundations of behavioral economics and another discussing behavioral law and economics related to consumer financial protection.

The symposium is set to begin at 9 a.m. Eastern. Those interested in attending in person can register through the CFPB; a livestream will also be available the day of the event.

In addition to UDAAP and behavior law and economics, other topics the series will cover include:

  • small business loan data collection;
  • disparate impact and the Equal Credit Opportunity Act;
  • cost-benefit analysis; and
  • consumer authorized financial data sharing.