We study the effects of regulatory oversight by the Consumer Financial Protection Bureau (CFPB) on credit supply as well as bank risk-taking, growth, and operating costs. We use a difference-in-differences approach, making use of the fact that banks below a $10 billion size cutoff are exempt...

We build a framework to understand the effects of regulatory interventions in credit markets, such as caps on interest rates and higher compliance costs for lenders. We focus on the credit card market, in which we observe U.S. consumers borrowing at high and very dispersed interest rates,...

This paper studies the effects of consumer financial protection regulation introduced in the US after the financial crisis of 2007-2008. It starts with a review of bounded rationality in the context of retail financial markets. I analyze the survey of consumer finances using diffs-in-diffs,...

On March 7, 2018, the Consumer Financial Protection Bureau, under Acting Director Mick Mulvaney, issued a Request for Information eliciting public comment on its rulemaking processes. This response expresses concern that under its new leadership, the Bureau is retreating from its commitment to...

“Behavioral Law and Economics” (BLE) is a specialized component of the legal literature that purports to base its conclusions on a branch of economic analysis known as behavioral economics. The central claim of BLE is that by applying findings of behavioral economics to the real world it can...

This is an online appendix for the paper 'Does Opening Complaints Data Change Company and Consumer Behavior? Evidence from the Consumer Financial Protection Bureau'.The abstract for the main paper is available here: 'http://ssrn.com/abstract=2929790' http://ssrn.com/abstract=2929790

I analyze a technological change which improved the public monitoring of financial customer treatment. This major assessment of the Consumer Financial Protection Bureau is based on its exposing credit card-related complaints online while keeping mortgage-related complaints concealed. Exposed...

The aftermath of the financial crisis has seen the formation of several new banking regulators and an onslaught of new financial regulation. In the area of consumer financial protection bureau these regulations have resuscitated the regulatory approach of prior eras, namely substantive...

After existing regulatory systems failed to prevent the 2008 financial crisis, Congress passed the Dodd-Frank Wall Street Reform and Consumer Protection Act, a sweeping reform designed to alleviate the crisis and prevent its recurrence. Out of this Act, the Consumer Financial Protection Bureau...

Using a dataset of around 3,000 commercial banks from over 100 countries, I examine the impact of financial consumer protection policies on the cost of financial intermediation. I find evidence that the existence of internal mechanisms for handling complaints, requirements for fair treatment,...