At a time when consumer financial regulation is both rapidly evolving and deeply contested, the launch of the Institute for Consumer Financial Choice (ICFC) represents a significant and timely development. Housed within the Law & Economics Center at George Mason University Antonin Scalia Law School, the ICFC is designed to bring rigorous, evidence-based analysis to some of the most important questions in consumer finance.
Addressing a Critical Need in Consumer Finance
Policymakers and regulators today face increasingly complex issues—from fintech innovation and access to credit to the appropriate balance between consumer protection and market competition. Yet, despite the importance of these issues, there has been a relative lack of institutions dedicated to producing empirical, testable research focused specifically on consumer choice.
The ICFC seeks to fill that gap with a clear mission:
- To study markets and their impact on consumer choice, emphasizing real-world outcomes; and
- To generate rigorous, data-driven research that can inform policymakers, regulators, and stakeholders.
In doing so, the Institute aims to elevate policy debates by grounding them in empirical evidence rather than ideology.
Developing the Next Generation of Policy Leaders
Equally important, the ICFC is focused on building a pipeline of legal and policy professionals committed to advancing consumer choice. By engaging students, scholars, and practitioners, the Institute will help prepare the next generation of experts to serve in government and shape regulatory agencies.
This dual focus—on both research and talent development—distinguishes the ICFC from traditional academic centers.
Leadership with Deep Expertise
The Institute is led by two distinguished scholars:
- Todd J. Zywicki, a leading voice in law and economics and consumer credit; and
- Tom Miller Jr., a recognized expert in financial institutions and consumer finance.
Their combined experience in academia and policy positions the ICFC to play a meaningful role in shaping the national conversation.
I am proud to say that both Professors Zywicki and Miller have been guests (in Professor Zywicki’s case, on multiple occasions) on our podcast show, Consumer Finance Monitor. Links to blogs about those podcasts (which contain links to the podcasts themselves) are here, here, here, here and here.
Launch Event: A Joint Program on May 14, 2026
The ICFC will formally kick off its work with a joint launch program on May 14, 2026, hosted at George Mason University Antonin Scalia Law School. This event—held in collaboration with the Federal Trade Commission—signals the Institute’s commitment to engaging directly with policymakers and regulators from the outset.
The program, scheduled for the afternoon of May 14 (and continuing into May 15), will bring together academics, government officials, and industry participants to discuss key issues at the intersection of consumer finance, regulation, and market competition.
By partnering with the FTC, the ICFC underscores its intention to serve as a bridge between scholarship and real-world policy—ensuring that its research is not only rigorous but also relevant.
Why This Matters
The creation of the ICFC comes at a pivotal moment. Regulatory frameworks are being reassessed across a wide range of issues, and policymakers must navigate difficult trade-offs that affect access to credit, innovation, and consumer welfare.
An institution dedicated to empirical, testable, and policy-relevant research can play a critical role by:
- Providing clarity on how consumers actually behave in financial markets;
- Evaluating the real-world effects of regulation; and
- Identifying unintended consequences that may undermine consumer outcomes.
Looking Ahead
If successful, the Institute for Consumer Financial Choice has the potential to become a leading voice in consumer finance policy. By combining rigorous research, policy engagement, and talent development, it offers a model for how academic institutions can meaningfully contribute to the regulatory process.
In a field often marked by strong opinions and limited consensus, the ICFC’s commitment to data, analysis, and consumer choice is both welcome and necessary.