Financial inclusion and financial literacy are receiving increasing attention for their potential to contribute to economic and financial development while fostering more inclusive growth and greater income equality. In general, the progress of financial inclusion and financial development in...

This study highlights the relationship between the competitive environment in the domestic banking sector and the protection of consumers’ rights and interests. The research is focused on three areas: analysis of the competitive environment, based on detailed analysis of the degree of...

In this article the author outlines some difficulties facing the cyber-shopper. These include the practical difficulties of enforcement and redress which arise when a cyber-shopper purchases a defective product from an overseas supplier, or when misleading information is placed on the internet...

The U.S. legal system has multiple and complex regulatory regimes for insurance which combine statutes, administrative regulations and common law rules. Regulation of insurance is predominantly done by the fifty states, and this increases the system's complexity. The regulatory regimes generally...

In the debate over the proposed establishment of a new Consumer Financial Protection Agency, much attention has been given to discussion of whether consumers are irrational or incompetent and therefore need paternalistic regulators to look after them, and whether inadequate consumer protection...

The creation of a new Consumer Financial Protection Agency (“CFPA”) is a very bad idea and should be rejected. The proposal is not salvageable and cannot be improved in substance or in form. The foundational premise of the CFPA is that a failure of consumer protection, and specifically...

This paper provides a 5 year review of the Consumer Financial Protection Bureau which is part (title X) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The CFPB is one of the most controversial parts of the Dodd-Frank Act. It has been argued (mostly by the banking industry)...

In the aftermath of the U.S. financial crisis, Congress created a new federal agency — the Consumer Financial Protection Bureau (CFPB) — with the goal of fashioning a more just and efficient American consumer finance market. The CFPB now serves as the U.S. Government's primary regulator and...

Over the past decade, cost-benefit analysis in the field of financial regulation (“financial CBA”) has emerged as a topic of intense public interest. In reviewing rulemakings under the Administrative Procedure Act, courts have demanded greater rigor in the financial CBA that regulators...