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Effects of Consumer Financial Protection Introduced after the Financial Crisis of 2007-2008

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  • Garcia Gonzalez, Javier

Abstract

This paper studies the effects of consumer financial protection regulation introduced in the US after the financial crisis of 2007-2008. It starts with a review of bounded rationality in the context of retail financial markets. I analyze the survey of consumer finances using diffs-in-diffs, paying special attention to the singularities of this dataset. The main goal is to assess the effectiveness of regulatory changes. Secondarily, the paper tries to find out if deception was occurring in the marketplace. There is support for the effectiveness of the 2011 FTC advertising rule. Results reject effectiveness of HOEPA rule of 2008 and HEOA provisions about private education loans.

Suggested Citation

  • Garcia Gonzalez, Javier, 2018. "Effects of Consumer Financial Protection Introduced after the Financial Crisis of 2007-2008," MPRA Paper 89226, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:89226
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    References listed on IDEAS

    as
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    Keywords

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    JEL classification:

    • D49 - Microeconomics - - Market Structure, Pricing, and Design - - - Other
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G28 - Financial Economics - - Financial Institutions and Services - - - Government Policy and Regulation
    • G29 - Financial Economics - - Financial Institutions and Services - - - Other

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