Jul 17, 2018

What's Next for Consumer Credit Regulation?

Brian Knight Senior Research Fellow, Chad Reese Former Managing Editor, Justin Schardin

How to regulate consumer financial products and services has remained one of the most contentious issues in Washington since the financial crisis. Congress created a new agency aimed at dealing with the issue in the wake of the crisis, but nearly seven years after that agency first opened its doors, the issue remains as relevant as ever.

In fact, experts are even divided on what to call the agency. For some, it’s the “Consumer Financial Protection Bureau,” or CFPB. For others, including Acting Director Mick Mulvaney, it’s the “Bureau of Consumer Financial Protection,” or the BCFP.

Today, we're just going to call it “the Bureau,” and ask our guests to talk a little about the recent nomination of Kathleen Kraninger to direct the Bureau. More importantly, however, we’ll talk about the future of consumer credit regulation regardless of who runs the Bureau:

  • Justin Schardin, a fellow with the Bipartisan Policy Center, and the former director of their Financial Regulatory Reform Initiative. 
  • Brian Knight, director of the financial regulatory program here at the Mercatus Center.

Looking to connect with a scholar you heard on the Download? Email Kate De Lanoy of our Media team at kdelanoy@mercatus.gmu.edu.

Photo credit: AP/Shutterstock

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