LAW611H

038662

This course will focus on the work of the federal Consumer Financial Protection Bureau as well as its potential impact on other federal as well as state consumer law. The agency, called the Consumer Financial Protection Bureau (CFPB), was launched in 2011. Congress armed the CFPB with greater independence than some other agencies, particularly the Federal Trade Commission, which also has a consumer protection function. Furthermore, unlike bank regulators that previously performed many of the functions moved to the CFPB, the new agency has a singular focus on consumer protection and is not also assigned a potentially conflicting role to regulate safety and soundness of financial institutions. This seminar will explore the behavioral economics theory underpinning the work of the CFPB and how that approach differs from earlier consumer law. Students will analyze and critique the work of the CFPB to date, in areas such as financial literacy, mortgages, debt buying, student loans, payday lending, and arbitration.

ALT - Alternative Grading +/- A,B,C,D,E,S,P,F

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