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CFPB holds behavioral law symposium
The CFPB today is holding a symposium on behavioral law and economics – the second in a series that is meant to explore consumer protections in "today’s dynamic financial services marketplace." NAFCU will attend the event.
CFPB Director Kathy Kraninger and Deputy Director Brian Johnson will both make remarks during today's event. In addition, two panels will be featured, one focused on methodological foundation of behavioral economics and another discussing behavioral law and economics related to consumer financial protection.
At NAFCU's Congressional Caucus last week, Kraninger detailed ways the bureau is using its tools to balance consumer protections with effective regulations.
The symposium will begin at 9 a.m. Eastern; those interested in attending can register through the CFPB, and a livestream will also be available.
Other topics the symposium series will cover in the future include:
- small business loan data collection;
- disparate impact and the Equal Credit Opportunity Act;
- cost-benefit analysis; and
- consumer authorized financial data sharing.
Following the first symposium on the "abusive" prong of the unfair, deceptive or abusive acts or practices (UDAAP) provision, NAFCU Director of Regulatory Affairs Ann Kossachev provided a detailed recap on the association’s member-only Compliance Network.