Consumer Financial Protection
讨论消费者金融监管，从市场失灵和消费者有限理性两方面论证监管必要性，并通过抵押贷款、发薪日贷款和退休消费融资三个案例说明监管的适用与局限。
The recent financial crisis has led many to question how well businesses deliver services and how well regulatory institutions address problems in consumer financial markets. This paper discusses consumer financial regulation, emphasizing the full range of arguments for regulation that derive from market failure and from limited consumer rationality in financial decision making. We present three case studies—of mortgage markets, payday lending, and financing retirement consumption—to illustrate the need for, and limits of, regulation. We argue that if regulation is to be beneficial, it must be tailored to specific problems and must be accompanied by research to measure the effectiveness of regulatory interventions.