The Consumer Financial Protection Bureau has announced that it will be holding a virtual meeting next week on the topic of using cost-benefit analysis in consumer protection regulation. Two panels of experts, including academics, consumer advocates, and a representative from the financial services industry will gather to discuss cost-benefit analysis and its place in regulating the financial services industry.
The event will be held on Wednesday, July 29 starting at 9:30am ET. You can register for the event by clicking here. Kathleen Kraninger, the director of the CFPB, will speak before the panels commence.
The first panel will discuss “how the Bureau should use cost-benefit analysis in developing consumer financial regulations and whether the Bureau’s practices provide the proper incentives for the best use and reporting of cost-benefit analysis,” and include:
- Jerry Ellig, research professor, George Washington University Regulatory Studies Center
- Stephen W. Hall, legal director and securities specialist, Better Markets
- Brian Hughes, executive vice president and chief risk officer, Discover Financial Services
- Howell Jackson, professor of law, Harvard Law School
- Amit Narang, regulatory policy advocate, Public Citizen
The second panel will discuss “how the Bureau may help advance the methodology of cost-benefit analysis for consumer financial regulation,” and include:
- John Coates, professor of law and Economics, Harvard Law School
- Mark Cohen, professor of law, Vanderbilt Law School
- Alex Lee, professor of law, Northwestern Pritzker School of Law
- Christopher J. Mayer, professor of real estate, Columbia Business School
This event marks the fifth such symposium that has been organized by the CFPB. The other four events discussed Dodd-Frank Act’s prohibition on abusive acts or practices, behavioral law and economics, Section 1071 of the Dodd-Frank Act, and consumer access to financial records.