Former CFPB Senior Counsel for Enforcement Strategy Chris Peterson, who is currently a Professor at the University of Utah S.J. Quinney College of Law, has announced his candidacy for Utah Governor. Chris also currently serves as the Financial Services Director and Senior Fellow of the Consumer Federation of America.
Chris is the drafter of the Veterans and Consumers Fair Credit Act which has been introduced in the House (H.R. 5050) and Senate (S. 2833) and would impose a 36% national usury limit on most forms of consumer credit. Chris was recently our guest for a podcast in which he discussed the rationale for the rate limit, its potential impact on credit access, the implementation process if enacted, and the bill’s status and political prospects. Click here to listen to the podcast.