Todd J. Zywicki, Foundation Professor of Law, Antonin Scalia Law School, received funding from the Consumer Financial Protection Bureau (CFPB) for a task force. This body will examine the existing legal and regulatory environment facing consumers and financial services providers.
The task force will also produce new research and legal analysis of consumer financial laws in the United States, focusing specifically on harmonizing, modernizing, and updating the federal consumer financial laws--and their implementing regulations--and identifying gaps in knowledge that should be addressed through research, ways to improve consumer understanding of markets and products, and potential conflicts or inconsistencies in existing regulations and guidance.
Zywicki is serving as chair of the task force. In that role, he will lead the multi-member group and work with CFPB staff. The task force will report its recommendations to CFPB Director Kathleen Kraninger. These recommendations will include ways to improve and strengthen consumer financial laws and regulations. Zywicki will produce the final report addressed to Kraninger.
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The task force aims to deliver that report by the end of 2020.
The CFPB was created in 2011 to provide a single point of accountability for enforcing consumer financial laws and protecting consumers in the financial marketplace. Prior to its creation, that responsibility was divided among several agencies.
Zywicki received $226,944 from the CFPB for this project. Funding began in January 2020 and will conclude in January 2021.