For the next two classes, we will explore the work of the Consumer Financial Protection Bureau. As an introduction to the subject, take a look at Adam Levitin's article on the Bureau, which is assigned as background.

In today's class, we will dig into the regulation of mortgages under the Dodd Frank Act. The ABA memorandum gives an overview of the topic, which you should read first. Then take a look at Part III and IV of the Regulating Against Bubbles article assigned for Class Twelve. Finally, we will take a brief deep dive into one specific rule-making -- Integrated Disclosure for RESPA and TILA -- focusing specifically on the CFPB's reliance on a Quantitative Study. The study is appended below. Please read over the executive summary of the study and then skim the Federal Register release, focusing on the highlighted references to the Quantitative Study. To what degree does the study demonstrate important benefits for this new regulation?

In today's class, we will be covering two topics.  The first is law of fair lending.  We will start a memorandum arising out of a class action challenging discrimination in mortgage lending several years ago and then will look at a subsequent legal decision in a similar action. There follows a brief description from SCOTUS Blog of a recent oral argument in the Supreme Court.  Our second topic will be benefit analysis in consumer protection regulation. Here a somewhat lengthy paper on the topic is posted.  Read through the introduction and Part I, which is a literature review on the subject.  The balance of the paper is optional, and you should read only to the extent that your personal interests dictate.

In today's class, we will continue our discussion of the work of the CFPB. We will start by completing our consideration of the CFPB's Integrated Disclosure Regulations for RESPA and TILA. To what extent does the Know Before You Owe Study demonstrate that the regulation will benefit consumers more than the costs of transitioning to a new disclosure regime. Our next topic for class discussion will be the structure of the CFPB itself, as outlined in the Adam Levitin article assigned for Class Thirteen. The one new reading for today's class is Lauren Willis's article on When Nudges Fail. As you review this piece, consider how it relates (or does not relate) to the Bubb and Pildes article on retirement savings we read earlier in the semester.