With latest addition, new consumer bureau taskforce on federal consumer financial law has five members

Another member – William MacLeod – has been named to a taskforce formed recently by the consumer financial protection agency to review current laws and rules affecting consumer financial services, the bureau announced Friday, increasing the panel’s complement to five menbers.

William MacLeod, partner at Kelley Drye & Warren, LLP, is the past chair of the antitrust section of the American Bar Association, the CFPB said, and a former consumer protection bureau director at the Federal Trade Commission.

The bureau solicited applications in October to membership in the CFPB Taskforce on Federal Consumer Financial Law, and it announced four members for the panel Jan. 9. The taskforce, the bureau said, will examine the existing legal and regulatory environment facing consumers and financial services providers and provide recommendations to CFPB Director Kathleen (“Kathy”) Kraninger for ways to improve and strengthen consumer financial laws and regulations.

The bureau said the taskforce is modeled on a commission created by the 1968 Consumer Credit Protection Act. (A National Commission on Consumer Finance was created by the 1968 statute to study and make recommendations on the need for further regulation of the consumer finance industry.)

The members (including the taskforce chair) announced last week include:

  • Todd J. Zywicki (taskforce chair), professor of law at George Mason University (GMU) Antonin Scalia Law School, Senior Fellow of the Cato Institute, and former Executive Director of the GMU Law and Economics Center.
  • 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 (FTC);
  • Thomas Durkin, senior economist (retired) at the Federal Reserve Board;
  • Jean Noonan, partner at Hudson Cook, former general counsel at the Farm Credit Administration, and former associate director of the Bureau of Consumer Protection’s credit practice at the FTC.

The bureau last week also noted that  Matt Cameron (no details provided) will be the taskforce’s staff director.

RR: Four members named to bureau taskforce on federal consumer financial law (Jan. 9, 2020)