The Consumer Financial Protection Bureau will host a series of symposia exploring consumer protections in the financial services market.
The series is designed to stimulate dialogue and assist the bureau in its policy development process. The bureau will host a discussion panel of experts at each symposium with a variety of viewpoints on the topic.
“There are a number of outstanding, challenging issues the Bureau is facing – some of which Congress directed us to address. I believe that the best way to address these issues is with proactive dialogue,” CFPB Director Kathleen Kraninger said. “The symposia series is building on the approach we took last year in convening experts on access to credit issues and credit invisibles. These types of proactive efforts are precisely how we intend to engage. Our symposia series will facilitate a robust discussion by experts on a variety of topics related to the Bureau’s mission in a public forum. As the Bureau has an open mind on where the process will go, any appropriate next steps would come after the Bureau has had time to digest the discussion at the given symposium.”
The first topic for the series will be on clarifying the meaning of abusive acts or practices under Section 1031 of the Dodd-Frank Act. Other future topics include abusive acts or practices, behavioral law and economics, small business loan data collection, disparate impact and the Equal Credit Opportunity Act, cost-benefit analysis, and consumer authorized financial data sharing.