Use of installment loans has grown dramatically in recent years – all without the regulatory scrutiny that tamped down on abuses in the payday loan market.
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The president recently nominated a new permanent director to take over the Consumer Financial Protection Bureau. With the CFPB doing a fraction of the work it did under Obama, what kind of agency will she lead?
Mick Mulvaney has only been in charge of the Consumer Financial Protection Bureau for two months, but he’s already made many decisions that will leave consumers worse off.
The decision by the bureau’s founding director to step down this month offers Republicans and the Trump administration a chance to finally gut the bureau they’ve long despised.
Republican efforts to kill a rule designed to make it easier for people to sue banks are a reminder of why it’s so important to have a government agency that protects consumers.
Before calling for more regulation to combat predatory lending practices, consumer advocates should consider wages and the problem of insecure work.
Consumers will always make ‘irrational’ financial decisions, but behavioural economics could help regulators improve their education role.
Kontributor teratas
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Professor of Law, St. John's University
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Professor of Clinical Education, St. John's University
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Professor of Clinical Education, St. John's University
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Social policy and consumer finance researcher, School of Economics, Finance and Marketing, University of Tasmania
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Economist, Professor of Law, Vanderbilt University
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Visiting Fellow, Macquarie University Applied Finance Centre, Macquarie University
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Ph.D. Student in Law and Economics, Vanderbilt University
