Financial Institutions and Banking

Consumer Protection in Financial Services

Consumer Protection in Financial Services

Since opening its doors in July 2011, the Consumer Financial Protection Bureau (CFPB) has focused on monitoring and enforcing financial institutions' compliance with consumer financial protection laws and regulations, as well as preventing unfair, deceptive, or abusive acts and practices under the Dodd-Frank Act. The bureau has exercised regulatory oversight and initiated enforcement actions against firms in a wide range of financial services industries. The CFPB's broad mandate covers credit cards, bank accounts and services, mortgages, private student loans, and auto lending, among other financial products and service areas.

NERA's economists have extensive experience with consumer protection issues in financial markets and with financial institution regulatory compliance. Institutions rely on NERA to provide expert analysis, assessments, and testimony in regulatory reviews and litigation proceedings. Our deep practical expertise cuts across the financial industry, including banking, investment products, credit cards, and mortgage origination and securitization. Many of NERA's economists have direct regulatory experience, having held key positions at government agencies including the Federal Reserve Board, the Commodity Futures Trading Commission, the Securities and Exchange Commission, the Federal Trade Commission, and the President's Council of Economic Advisers. Outside of the public sector, NERA experts have held senior positions at some of the world's leading financial and advisory companies. We combine an authoritative understanding of the relevant laws and regulations with the industry's leading experience in producing highly rigorous and objective economic analysis to help financial institutions adapt to regulatory overhaul in the area of consumer protection.

In the area of consumer protection, NERA experts have experience with:

  • Allegations of false advertising and deceptive practices
  • Allegations of excessive mortgage and credit card fees
  • Market research and analysis of consumer reactions to various financial programs and proposed regulations
  • Economic analysis, both theoretical and empirical, of consumer protection regulations
  • Assessment of financial institution regulatory compliance systems and procedures
  • Fair lending compliance assessment and monitoring
  • Monitoring and assessment of best practices and emerging practices
Name Title Location Phone Email
Dr. Andrew Carron Chairman New York City
London
+1 212 345 5407
+44 20 7659 8500
andrew.carron@nera.com
Dr. Patrick Conroy Managing Director
Chair of NERA's Securities and Finance Practice
New York City +1 212 345 1466 patrick.conroy@nera.com
Prof. Dr. Frank P. Maier-Rigaud Managing Director
Head of Competition Economics Europe
Berlin
Brussels
Paris
+49 30 700 1506 80
+32 2 674 8818
+33 1 70 75 0180
frank.maier-rigaud@nera.com
James Mellsop Managing Director Auckland
Wellington
Sydney
+64 9 928 3290
+64 4 819 2550
+61 2 8864 6536
james.mellsop@nera.com
Dr. Faten Sabry Managing Director
Bankruptcy Practice Chair
New York City
London
+1 212 345 3285
+44 20 7659 8618
faten.sabry@nera.com
Dr. James Overdahl Affiliated Industry Expert Washington, DC +1 202 547 3035 joverdahl@deltastrat.com
Title Type Author
Expert Analysis: Financial Crisis Anniversary - Trends In Credit Crisis Settlements Published Article By Faten Sabry, Sungi Lee, and Linh Nguyen
PDVSA’s Peculiar Oct. ’22 Bond May Carry Elevated Risks Report By Timothy McKenna and Raphael Starr
Securities Class Actions: 2016 Full-Year Review and Mid-2017 Flash Update Published Article By Stefan Boettrich and Svetlana Starykh
BSA/AML Compliance and Enforcement: An Update for the Securities and Derivatives Indu... Published Article By. Sharon Brown-Hruska
Not All MBS Settlements Are Equal White Paper By Faten Sabry, Sungi Lee, and Linh Nguyen
Trends in Canadian Securities Class Actions: 2016 Update Report By Bradley A. Heys & Robert Patton
Trends in Regulatory Enforcement in UK Financial Markets 2015/16 Year-End Report Report By Robert Patton and Erin McHugh et al
Economic Analysis in the Federal Rule-Making Process to Implement the Dodd-Frank Wall... Working Paper By Dr. James Overdahl
Study of the Impact of Securitization on Consumers, Investors, Financial Institutions... Study By Dr. Faten Sabry and Dr. Chudozie Okongwu
Where Was SOX? Published Article By Dr. Henry Butler with Professor Larry E. Ribstein, Mildred Van Voorhis Jones Chair in Law at the University of Illinois