The Consumer Financial Protection Bureau (CFPB) has named four members to its new Taskforce on Federal Consumer Financial Law.
The taskforce, which was introduced in October
, has been given the responsibility of streamlining and updating federal consumer financial laws. Among its duties will be the conducting of new research and legal analysis of consumer financial laws with the goal of modernizing and synchronizing the laws and regulations while identifying ways to improve consumer understanding of markets and products.
Todd J. Zywicki, professor of law at George Mason University (GMU) Antonin Scalia Law School and senior fellow of the Cato Institute, will serve as the taskforce’s chairman. Other taskforce members include J. Howard Beales, III, former professor of strategic management and public policy at the George Washington University and former director of the Bureau of Consumer Protection at the Federal Trade Commission; Thomas Durkin, former senior economist at the Federal Reserve Board; and Jean Noonan, partner at Hudson Cook and former general counsel at the Farm Credit Administration and former associate director of the Bureau of Consumer Protection's Credit Practice at the Federal Trade Commission. Matt Cameron, staff director at the CFPB, will serve as the taskforce’s staff director.
“The taskforce will conduct a thorough examination of our current regulatory framework and report on how we can improve federal consumer financial laws to benefit and protect consumers,” said CFPB Director Kathleen L. Kraninger. “I look forward to the work the taskforce will undertake and reviewing their recommendations.”