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For the CFPB, Evaluating “Junk Fees” May Be Complicated
29 March 2022
Dr. Andrew Stivers
On 26 January 2022, the Consumer Financial Protection Bureau (CFPB) “launched an initiative to save households billions of dollars a year by reducing exploitative junk fees charged by banks and financial companies.” (CFBP)
While this is a laudable goal, Associate Director Dr. Andrew Stivers, an economic expert in consumer protection, finds that determining whether the fee was too high may be a challenging task for regulators. Dr. Stivers breaks down the CFPB’s request for information in a Law360 article titled “For the CFPB, Evaluating ‘Junk Fees’ May Be Complicated.”
To read the full article, please visit Law360’s website here.