Deceptive for Whom? The Implications of Behavioral Economics Driven Consumer Financial Services Policy
Behavioral economics interventions, which include policies such as mandated disclosure that target how consumers receive and process information, have received a fair bit of attention in consumer financial services. The Consumer Financial Protection Bureau (CFPB) has a history of engaging prominent scholars in behavioral economics.
In this article written for the ABA Consumer Financial Services Committee Newsletter, Edgeworth Partner Dr. Stephen Bronars and coauthor Dr. Xiaoling Ang explore how behavioral economics research and literature is likely to affect the design, implementation, and enforcement of consumer financial services law.