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. Patrick Conroy Managing Director New York City +1 212 345 1466 patrick.conroy@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
Chair of NERA's Global Securities and Finance Practice
Bankruptcy Practice Chair
New York City
London
+1 212 345 3285
+44 20 7659 8618
faten.sabry@nera.com
Dr. Ling Ling Ang Associate Director New York City
Washington, DC
+1 212 345 5409
+1 202 466 9259
lingling.ang@nera.com
Erin B. McHugh Associate Director London
New York City
+44 20 7659 8736
+1 212 345 2990
erin.mchugh@nera.com
Dr. Andrew Carron Affiliated Consultant New York City
London
+1 212 345 5407
+44 20 7659 8500
andrew.carron.affiliate@nera.com