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Regulating Forced Arbitration in Consumer Financial Services : Re-Opening the Courthouse Doors to Victimized Consumers
McCluskey, Martha T. - 2016
Forced arbitration clauses have become almost unavoidable in contracts for financial services and products ranging form credit cards to private student loans. This report examines how the financial services industry uses these clauses to defeat consumers' rights and evade accountability for...
Persistent link: https://www.econbiz.de/10012991448
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Does CFPB oversight crimp credit?
Fuster, Andreas; Plosser, Matthew; Vickery, James - 2018
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...
Persistent link: https://www.econbiz.de/10011868541
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The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market
Miller, Thomas; Zywicki, Todd J. - 2021
We analyze 15.6 million storefront payday loans made to 1.8 million unique borrowers in 2013 to examine payday loan terms and usage. We find that loan prices and loan amounts are generally not at state-mandated maximum levels. For the 30 states in our sample, we find that the number of loans per...
Persistent link: https://www.econbiz.de/10013210902
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The Analysis of Benefits in Consumer Protection Regulation
Jackson, Howell E. - 2020
Over the past decade, cost-benefit analysis in the field of financial regulation (“financial CBA”) has emerged as a … benefit analysis in the area of consumer financial regulation. This taxonomy reflects traditional market failures, cognitive … be considered state-of-the-art benefit analysis in consumer protection regulation in the years immediately following the …
Persistent link: https://www.econbiz.de/10012827469
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Market-Reinforcing versus Market-Replacing Consumer Finance Regulation
Zywicki, Todd J. - 2017
financial regulation. In the area of consumer financial protection bureau these regulations have resuscitated the regulatory … approach of prior eras, namely substantive regulation of the prices, terms, and products offered to consumers. But these … consumers from mainstream financial products. This chapter drawn from the book Reframing Financial Regulation: Enhancing …
Persistent link: https://www.econbiz.de/10012963104
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Testimony of Erik F. Gerding, 'Industrial Loan Companies, Fintech Charters, and Eroding the Separation between Banking and Commerce,' for a Hearing before the U.S. House of Represe...
Gerding, Erik F. - 2021
The 2020 Federal Deposit Insurance Corporation reopening of deposit insurance to industrial loan companies (“ILCs”) threatens to:¶ create risks to financial stability;¶ distort competition in commercial markets;¶ distort competition in banking markets and promote greater risk-taking;¶...
Persistent link: https://www.econbiz.de/10013229164
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Price transparency in residential electricity : experiments for regulatory policy
Lunn, Pete; Bohacek, Marek - 2016
Two laboratory studies investigated the effect of price transparency on consumers' decision-making in the residential electricity market. The first tested whether consumers have difficulties when confronted with unit prices expressed as discounts from standard rates, which vary between...
Persistent link: https://www.econbiz.de/10011547585
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An experiment for regulatory policy on broadband speed advertising
Timmons, Shane; McElvaney, Terence J.; Lunn, Pete - 2019
Identifying whether hyperbolic advertising claims influence consumers is important for consumer protection, but differentiating mere "puffery" from misleading advertising is not straightforward. We conducted a pre-registered experiment to determine whether pseudo-technical advertising claims...
Persistent link: https://www.econbiz.de/10012123243
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The Regulation of Consumer Financial Products: An Introductory Essay with Four Case Studies
Campbell, John Y.; Jackson, Howell E.; Madrian, Brigitte C. - Kennedy School of Government, Harvard University - 2010
market failures or other deficiencies, and the structure of our current system of regulation. To illustrate our analytical …
Persistent link: https://www.econbiz.de/10010838939
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The interdependence of competition policy, consumer policy and regulation in introducing and safeguarding effective competition in the EU telecommunications market
Bartels, Andreas; Pleşea, Doru Alexandru; Studeny, Michael - In: Amfiteatru economic : an economic and business research … 19 (2017) 45, pp. 367-380
the citizens of its member states. The Roaming Regulation that has reduced the mobile communications costs while …
Persistent link: https://www.econbiz.de/10011796653