Profs. Zywicki and Miller have co-authored a soon-to-be published study, “The Effects on Consumers from Two State-Level Regulations of the Payday Loan Market,” in which they analyzed 15.6 million storefront payday loans made to 1.8 million unique borrowers in 2013 to determine whether the number of loans a consumer takes in a year is a meaningful assessment of consumer welfare. … Continue Reading
Professor Zywicki shares his views on the current trend of denying access to financial services to politically-disfavored industries or based on political views, whether through the actions of banking regulators, most notably Operation Choke Point, or actions taken by banks on their own initiative. We discuss the appropriateness of possible responses to these tactics, such as the OCC’s final fair access rule that did not become effective due to the change in Administrations. … Continue Reading
In Part I of our two-part podcast, after discussing the Taskforce’s goals and background, we look at the recommendations in the Taskforce’s report concerning artificial intelligence, limited English proficiency consumers, and fair lending, share our reactions to the recommendations, and consider the recommendations’ practical implications for the consumer finance industry.
Ballard Spahr attorney Alan Kaplinsky hosts the conversation with Professor Zywicki and Chris Willis, Co-Chair of Ballard Spahr’s Consumer Financial Services Practice Group.… Continue Reading
In this podcast, Alan Kaplinsky, who leads our Consumer Financial Services Group, interviews Todd Zywicki, a Professor of Law at George Mason University and leading consumer finance expert, on the CFPB’s authority to prohibit abusive conduct. After reviewing how the CFPB has used its authority, Todd shares his views on what abusive means, how it differs from unfair or deceptive, what products or services can involve abusiveness, how the CFPB can best provide clarity, and the CFPB’s likely next steps in the wake of its symposium (at which Todd was a panelist).… Continue Reading
A new article by Todd Zywicki for the Mercatus Center at George Mason University urges the CFPB to consider the “unintended consequences” of new debt collection regulations and conduct a careful cost-benefit analysis before imposing such regulations. Mr. Zywicki is a law professor at George Mason and Senior Scholar with the Mercatus Center.… Continue Reading