Professor Chris Peterson testifies before Congress about Consumer Financial Protection Bureau reporting

Apr 25, 2024 | Faculty

Chris Peterson, a young white man with short dark-brown hair and glasses wearing a navy blue suitProfessor Chris Peterson, a consumer finance expert, testified before Congress on April 16, 2024, in a hearing that focused on the Consumer Financial Protection Bureau’s (CFPB) consumer protection work.

Peterson’s testimony focused on financial reporting and transparency at the CFPB and the CFPB’s recent final rule reducing the CARD Act safe harbor for late fees. He explained why the CFPB’s funding structure is constitutional, described the CFPB’s most recent financial audit, and highlighted some of the Bureau’s recent efforts to reduce junk fees imposed on American consumers.

Read Peterson’s testimony or watch the video of the hearing (Peterson begins speaking at 00:38).