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Forced arbitration clauses have become almost unavoidable in contracts for financial services and products ranging form credit cards to private student loans. This report examines how the financial services industry uses these clauses to defeat consumers' rights and evade accountability for...
Persistent link: https://www.econbiz.de/10012991448
in developing countries in the light of recent empirical evidence. Second, we explore the role of regulation to address … money networks and the crowding-in of formerly unbanked households. Regulation on consumer protection particularly is of …
Persistent link: https://www.econbiz.de/10013475263
We study the effects of regulatory oversight by the Consumer Financial Protection Bureau (CFPB) on credit supply as well as bank risk-taking, growth, and operating costs. We use a difference-in-differences approach, making use of the fact that banks below a $10 billion size cutoff are exempt...
Persistent link: https://www.econbiz.de/10011868541
Over the past decade, cost-benefit analysis in the field of financial regulation (“financial CBA”) has emerged as a … benefit analysis in the area of consumer financial regulation. This taxonomy reflects traditional market failures, cognitive … be considered state-of-the-art benefit analysis in consumer protection regulation in the years immediately following the …
Persistent link: https://www.econbiz.de/10012827469
financial regulation. In the area of consumer financial protection bureau these regulations have resuscitated the regulatory … approach of prior eras, namely substantive regulation of the prices, terms, and products offered to consumers. But these … consumers from mainstream financial products. This chapter drawn from the book Reframing Financial Regulation: Enhancing …
Persistent link: https://www.econbiz.de/10012963104
The 2020 Federal Deposit Insurance Corporation reopening of deposit insurance to industrial loan companies (“ILCs”) threatens to:¶ create risks to financial stability;¶ distort competition in commercial markets;¶ distort competition in banking markets and promote greater risk-taking;¶...
Persistent link: https://www.econbiz.de/10013229164
Two laboratory studies investigated the effect of price transparency on consumers' decision-making in the residential electricity market. The first tested whether consumers have difficulties when confronted with unit prices expressed as discounts from standard rates, which vary between...
Persistent link: https://www.econbiz.de/10011547585
Identifying whether hyperbolic advertising claims influence consumers is important for consumer protection, but differentiating mere "puffery" from misleading advertising is not straightforward. We conducted a pre-registered experiment to determine whether pseudo-technical advertising claims...
Persistent link: https://www.econbiz.de/10012123243
market failures or other deficiencies, and the structure of our current system of regulation. To illustrate our analytical …
Persistent link: https://www.econbiz.de/10010838939
As part of its overhaul of financial services regulation the Obama Administration has proposed stronger protection of … financial regulation, explores the policy rationale for these changes, and examines how the legislation, if enacted in its …
Persistent link: https://www.econbiz.de/10013155442