[Live Podcast] The Consumer Financial Protection Bureau Taskforce Report on Federal Consumer Financial Law
February 26, 2021 at 1:00 PM ET
Recent years have seen a dramatic shift in the way in which American consumers use and shop for financial products and make payments, especially the rapid growth of electronic payments and electronic disclosures. These developments have raised both new opportunities for consumer choice and benefits but also potential new consumer protection threats. At the same time, repeated economic and financial crises, such as the 2020 global COVID pandemic, have illuminated the tensions in the existing institutional framework and suggested a need for modernization to respond to these challenges.
To address these challenges, in 2020 Consumer Financial Protection Bureau Director Kathleen Kraninger formed the CFPB Taskforce on Federal Consumer Financial Law to review the existing consumer financial protection framework and to recommend reforms. On January 5, 2021, the Taskforce published its two-volume report (available here). Taskforce Chair Todd Zywicki joins us for an overview of the Report, its findings, and recommendations. He will be joined by David Silberman, former Deputy Director (acting) of the CFPB and the discussion will be moderated by Brian Johnson, also former Deputy Director of the CFPB.