Framing the Discussion of the Role of Consumer Financial Services

Show Notes: 

A financial services system must work for everyone. But how is that goal achieved? In 1968, President Johnson formed the National Commission on Consumer Finance (NCCF) which later issued a report in 1972 with recommendations of ways to change and improve a growing consumer financial services industry. Over fifty years later, the Consumer Financial Protection Bureau (CFPB) formed a Task Force on Federal Consumer Financial Law.

The Task Force was charged with putting together a report which would offer recommendations to meaningfully improve consumer protections and the financial marketplace.

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Todd Zywicki, Chair of the CFPB’s Task Force and Professor of Law at George Mason University stops by Clark Hill’s Credit Eco to Go to discuss the Task Force’s report and recommendations. The core themes of the report: inclusion (credit access), education, research, and regulatory coordination, are not surprisingly the same themes discussed by the NCCF many decades ago. Todd tells us that members of the Task Force hope this report can bring about an important dialogue around consumer financial services, the role of credit and the appropriate regulatory framework.  

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