The Consumer Financial Protection Bureau: Issues and Outlook
Tuesday, December 6, 2016 5:45 p.m. – 8:00 p.m.
Americans for Financial Reform, 1620 L Street NW, 11th floor, Washington, DC 20006
Metro: Farragut North Station
Gynnie Robnett, Payday Campaign Director, Americans for Financial Reform
Christina Stacy, Research Associate, Urban Institute
Light refreshments will be served at 5:45 pm, and the seminar begins at 6:00 pm. The seminar is free but please email Jack Ventura at firstname.lastname@example.org for reservations.
Largely the brainchild of Senator Elizabeth Warren, the Consumer Financial Protection Bureau (CFPB) came into being under The Dodd-Frank Act as the primary regulator of consumer financial services when Democrats had control of Congress (2010). CFPB is a consumer watchdog on predatory practices in such areas as payday loans, car title loans, and overdraft fees, which have been plaguing consumers for years. CFPB also arms people with the information, steps, and tools that they need to make smart financial decisions.
Conservatives in Congress have fiercely opposed the agency and may work to dismantle or neutralize it under the coming Trump Administration. Gynnie Robnett of Americans for Financial Reform will explain the deceptive practices of greatest concern to the public which CFPB is addressing, why regulation is needed to deal with them, and the outlook for the agency in the coming years. Christina Stacy will discuss her CFPB funded research that she undertook at the Urban Institute, which examines two approaches to financial education. There will be ample time after their presentations for questions and answers.